Constellation Brands price target lowered to $265 from $290 at BMO Capital

BMO Capital analyst Andrew Strelzik lowered the firm’s price target on Constellation Brands to $265 from $290 but keeps an Outperform rating on the shares after its Q3 earnings miss. Shares will likely will be limited by consumer spending concerns and margin expectations in the near term, but the pullback in the stock creates a compelling entry point with asymmetric risk/reward as the company’s underlying fundamentals are unchanged, the analyst tells investors in a research note.