Constellation Brands price target raised to $320 from $312 at UBS

UBS raised the firm’s price target on Constellation Brands to $320 from $312 and keeps a Buy rating on the shares. Constellation delivered a Q4 beat as stronger top-line performance in Beer and lower interest and tax more than offset slightly softer profitability, the analyst tells investors in a research note. The near-term catalyst path will likely be dictated by strength in tracked channels with the Bud Light incident now fully lapped, but with double-digit EPS growth on the horizon, UBS believes the risk/reward skews to the upside.