UBS analyst Peter Grom lowered the firm’s price target on Constellation Brands to $267 from $281 and keeps a Buy rating on the shares. Despite expectations that seemed prudent, Constellation missed on EPS, posted a weaker beer depletion result, and updated guidance that was below expectations, Grom tells investors in a research note. The analyst continues to believe that the risk/reward screens favorably and thinks the weakness offers a very compelling buying opportunity.
Published first on TheFly
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