Constellation Brands price target lowered to $250 from $295 at Argus

Argus analyst John Staszak lowered the firm’s price target on Constellation Brands to $250 from $295 but keeps a Buy rating on the shares. The company has emerged from the pandemic in a position of strength as beer shipments remain solid and as Constellation Brands 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, Staszak adds.