Piper Sandler last night initiated coverage of Molson Coors with a Neutral rating and $69 price target. The analyst expects a modest lift to Molson’s sales from its expected 10% shelf space gain, but mostly expects a reversion to long-term historical share trends. The company will benefit from mix lifts from premiumization of its portfolio, but upside beyond beer looks smaller, the analyst tells investors in a research note. Piper says Molson’s ongoing strike adds near-term disruption costs and some uncertainty.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TAP:
- Roth MKM beverages analyst to hold an analyst/industry conference call
- Molson Coors Brewing’s New Cyber Security Risk – A Cause for Worry?
- Molson Coors files automatic mixed securities shelf
- Molson Coors price target raised to $65 from $64 at Barclays
- Molson Coors price target raised to $64 from $61 at Deutsche Bank