Berenberg Bank Keeps Their Hold Rating on Molson Coors (TAP)

Berenberg Bank analyst Javier Gonzalez Lastra maintained a Hold rating on Molson Coors (TAPResearch Report) on February 25 and set a price target of $56.00. The company’s shares closed last Tuesday at $50.64.

Lastra has an average return of 10.3% when recommending Molson Coors.

According to TipRanks.com, Lastra is ranked #2198 out of 7793 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for Molson Coors with a $53.64 average price target, implying a 3.6% upside from current levels. In a report issued on February 24, Barclays also maintained a Hold rating on the stock with a $49.00 price target.

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Based on Molson Coors’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.62 billion and net profit of $80 million. In comparison, last year the company earned revenue of $2.29 billion and had a GAAP net loss of $1.37 billion.

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Molson Coors Beverage Co. is a holding company, which engages in the provision of beer. It operates through the following segments: United States, Canada, Europe, International, and Corporate. The United States segment consists of production, marketing and sales of its brands, and other owned and licensed brands in the United States. The Canada segment includes production, marketing and sales of its brands, and other owned and licensed brands in Canada. The Europe segment comprises of production, marketing and sales of its brands as well as a number of regional brands in the United Kingdom, Republic of Ireland, and Central Europe. The International segment focuses its operations on Latin America, Europe, Asia Pacific, and Africa. The Corporate segment represents interest and certain other general and administrative costs that are not allocated to any of the operating segments. It operates under the brands Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, taropramen, Carling, Molson Canadian, Creemore Springs, Cobra, Doom Bar, Henry’s Hard and Leinenkugel’s. The company was founded in 1786 and is headquartered in Denver, CO.

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