Constellation Brands (STZ) Gets a Buy Rating from Wells Fargo

Wells Fargo analyst Christopher Carey maintained a Buy rating on Constellation Brands (STZResearch Report) today and set a price target of $275.00. The company’s shares closed last Monday at $226.02.

According to TipRanks.com, Carey is a 3-star analyst with an average return of 5.9% and a 51.4% success rate. Carey covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Spectrum Brands Holdings, and Edgewell Personal Care.

Currently, the analyst consensus on Constellation Brands is a Moderate Buy with an average price target of $274.47, a 21.6% upside from current levels. In a report issued on March 9, Jefferies also maintained a Buy rating on the stock with a $310.00 price target.

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Based on Constellation Brands’ latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $2.32 billion and net profit of $471 million. In comparison, last year the company earned revenue of $2.44 billion and had a net profit of $1.28 billion.

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Founded in 1945, Constellation Brands, Inc. is engaged in the production, marketing, and distribution of beer, wine, and spirits in the United States, Mexico, New Zealand, and Italy. The company’s iconic beer brands include Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra and Pacifico. Its premium wine and spirits brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner, SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.

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