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Molson Coors (TAP) Receives a Buy from Evercore ISI

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In a report released yesterday, Robert Ottenstein from Evercore ISI maintained a Buy rating on Molson Coors (TAPResearch Report), with a price target of $60.00. The company’s shares closed last Wednesday at $53.24.

According to TipRanks.com, Ottenstein is a 1-star analyst with an average return of -2.2% and a 42.9% 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.

The word on The Street in general, suggests a Hold analyst consensus rating for Molson Coors with a $54.08 average price target, representing a 2.7% upside. In a report issued on May 3, Jefferies also maintained a Buy rating on the stock with a $66.00 price target.

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The company has a one-year high of $61.48 and a one-year low of $42.46. Currently, Molson Coors has an average volume of 1.6M.

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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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