Constellation Brands: shares up on broker comments
(CercleFinance.com) - Shares of Constellation Brands rose more than 1% on Thursday following positive broker comments on the stock.
This morning Credit Suisse has initiated coverage of the world's largest branded winemaker with an "outperform" rating and a target price of 230 dollars.
"We believe Constellation should deliver a 6% top-line CAGR for the next three years, with free cash flow (FCF) growing 58% in the same period (16% CAGR), the highest in consumer staples," it wrote in the note on the sector.
After these comments, Constellation Brands shares rose 1.1% to 167.8 dollars in morning trading on the New York Stock Exchange.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
This morning Credit Suisse has initiated coverage of the world's largest branded winemaker with an "outperform" rating and a target price of 230 dollars.
"We believe Constellation should deliver a 6% top-line CAGR for the next three years, with free cash flow (FCF) growing 58% in the same period (16% CAGR), the highest in consumer staples," it wrote in the note on the sector.
After these comments, Constellation Brands shares rose 1.1% to 167.8 dollars in morning trading on the New York Stock Exchange.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.