Molson Coors price target lowered to $68 from $71 at Bernstein

Bernstein analyst Trevor Stirling lowered the firm’s price target on Molson Coors to $68 from $71 and keeps a Market Perform rating on the shares. The analyst says Q3 “has been brutal” for the Americas alcoholic beverage group, with stock de-ratings across the board. However, the firm says earnings stability and line-of-sight to positive catalysts provide opportunity for its Outperform-rated names.