(CercleFinance.com) – The title is up 1% after the positive analysis of Jefferies. The analysts reaffirms its ‘buy’ recommendation on Constellation Brands with an adjusted price target of $ 316 to $ 310, in the wake of a reduction in its 2023-24 BPA estimates for the alcoholic beverage group.
The broker remains positive on the file after a solid publication for its third accounting quarter and its raising of annual targets for 2022, also highlighting clarity on the expansion of beer capacities and the agreement reached with Coca-Cola.
However, Jefferies says it reflects Constellation Brands’ cautious comments about FY2023 costs in its estimates, comments that have put pressure on the market price.
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