Morgan Stanley analyst Eric Serotta assumed coverage of Molson Coors with an Equal Weight rating and $51 price target. While "encouraged" by progress made against its Revitalization Plan, the firm is not convinced Molson Coors can deliver longer-term sustainable organic top line growth given structural challenges in its core segment and the company’s geographic exposure. The firm also sees downside risk to 2023 and 2024 consensus EPS estimates and questions the sustainability of momentum for Topo Chico Hard Seltzer and Simply Spiked.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on TAP:
- Molson Coors Slips as Morgan Stanley Initiates Coverage
- Complexity Gaming renews partnership with Miller Lite
- Molson Coors upgraded to Outperform from Market Perform at Cowen
- Molson Coors management to meet virtually with MKM Partners
- Wells Fargo downgrades Molson Coors to Underweight, lowers price target to $45