Constellation Brands price target raised to $315 from $290 at BMO Capital

BMO Capital analyst Andrew Strelzik raised the firm’s price target on Constellation Brands to $315 from $290 and keeps an Outperform rating on the shares. The company’s Q4 earnings exceeded consensus as stronger Beer sales and lower corporate expense/interest/taxes more than offset weakness in Wine & Spirits, the analyst tells investors in a research note. BMO adds that its positive stance on the stock is supported by strong Beer momentum, runway for above-average growth, and a palatable sub-20-times earnings multiple.