Robert Moskow, an analyst from TD Cowen, maintained the Hold rating on Molson Coors. The associated price target remains the same with $47.00.
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Robert Moskow has given his Hold rating due to a combination of factors impacting Molson Coors. The company’s recent performance, marked by missing third-quarter sales and earnings per share expectations, has led to a cautious outlook. The new CEO, Rahul Goyal, has outlined a pragmatic approach to address these challenges, but the path to growth appears complex, particularly due to gaps in the product portfolio and the broader difficulties within the U.S. beer market.
Furthermore, while the company’s core brands are described as stable, there is an emphasis on improving regional execution and restructuring efforts. This includes giving more focus to value brands like Miller High Life and Keystone Light in specific regions. However, concerns remain about the performance of major brands like Miller Lite and Coors Light, which have struggled in the competitive light beer category. Despite some strategic initiatives to enhance production efficiencies, the overall uncertainty in the market and the need for further restructuring contribute to the Hold rating.
According to TipRanks, Moskow is a 3-star analyst with an average return of 1.8% and a 45.82% success rate. Moskow covers the Consumer Defensive sector, focusing on stocks such as Clorox, McCormick & Company, and PepsiCo.
In another report released today, Bernstein also maintained a Hold rating on the stock with a $50.00 price target.