Constellation Brands (STZ) Received its Third Buy in a Row

After Jefferies and Wells Fargo gave Constellation Brands (NYSE: STZ) a Buy rating last month, the company received another Buy, this time from Evercore ISI. Analyst Robert Ottenstein maintained a Buy rating on Constellation Brands yesterday and set a price target of $275.00. The company’s shares closed last Tuesday at $230.34.

According to TipRanks.com, Ottenstein is a 1-star analyst with an average return of -0.7% and a 48.5% success rate. Ottenstein covers the Consumer Goods sector, focusing on stocks such as Coca-Cola Europacific Partners, The Estée Lauder Companies, and Anheuser-Busch Inbev Sa.

Constellation Brands has an analyst consensus of Strong Buy, with a price target consensus of $280.08, a 22.9% upside from current levels. In a report issued on March 21, Wells Fargo also maintained a Buy rating on the stock with a $275.00 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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