HSBC initiated coverage of Molson Coors with a Hold rating and $68 price target. After a big volume jump in 2023, Molson Coors needs share gains, pricing, and innovation to generate sustained growth, the analyst tells investors in a research note. The firm thinks sustaining volume growth beyond 2024 for Molson’s two big mainstream brands, fixing Blue Moon, and delivering innovation winners might be difficult goals to achieve.
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