Constellation Brands price target raised to $308 from $295 at RBC Capital

RBC Capital analyst Nik Modi raised the firm’s price target on Constellation Brands to $308 from $295 and keeps an Outperform rating on the shares. The company reported another strong earnings print, which reaffirms RBC’s long-term bullishness in its ability to drive consistent CPG leading volume and profit growth, the analyst tells investors in a research note. Momentum in the beer business should help mitigate the ongoing weakness in Wine & Spirits, RBC states, adding that Constellation Brands is well-positioned to over-deliver this year.