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Constellation Brands price target raised to $260 from $250 at Evercore ISI
The Fly

Constellation Brands price target raised to $260 from $250 at Evercore ISI

Evercore ISI analyst Robert Ottenstein raised the firm’s price target on Constellation Brands to $260 from $250 and keeps an Outperform rating on the shares. Modelo is the key driver behind the sustainability of the company’s 7-9% medium-term beer business algorithm, said the firm. If Constellation can achieve 5-6% volume growth for the next 10 years, it would justify "something closer to a mid-20s P/E multiple," which equates to a price target "well over $300," the firm added.

Published first on TheFly

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