Constellation Brands’ beer shipments remain solid, says Argus

Argus keeps a Buy rating and $282 price target on Constellation Brands after its Q2 earnings beat. The company has emerged from the pandemic in a position of strength as beer shipments remain solid while it moves past the headwinds created by the sale of certain products to Gallo, the analyst tells investors in a research note. Constellation has also done a good job of boosting sales of Corona and Modelo in a weak economy, the firm added.