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RBC Capital Maintains a Buy Rating on Constellation Brands (STZ)

In a report issued on April 8, Nik Modi from RBC Capital maintained a Buy rating on Constellation Brands (STZResearch Report), with a price target of $300.00. The company’s shares closed last Friday at $244.46.

According to TipRanks.com, Modi is a 5-star analyst with an average return of 11.4% and a 66.1% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Reynolds Consumer Products, and Spectrum Brands Holdings.

Currently, the analyst consensus on Constellation Brands is a Moderate Buy with an average price target of $272.85, a 12.8% upside from current levels. In a report issued on April 1, Barclays also maintained a Buy rating on the stock with a $278.00 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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