Shares of Molson Coors Beverage Company (NYSE:TAP) are lower in today’s trading session. This is likely attributable to new coverage from analyst Eric Serotta from Morgan Stanley (NYSE:MS), who issued a Hold rating while assigning a $51 price target.
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Serotta believes that longer-term organic revenue growth is not sustainable, citing structurally challenged segment and geographic exposure. More specifically, he is not convinced about Molson Coors’ hard seltzer products, as volumes have slowed.
Overall, Wall Street has a consensus price target of $54.50 on TAP stock, implying 3.71% upside potential, as indicated by the graphic above.
