Cowen analyst Vivien Azer upgraded Molson Coors to Outperform from Market Perform with a price target of $60, up from $55. After a decade of revenue declines, Molson Coors is on "much firmer footing to deliver solid revenue growth" fueled by market share gains in beer, consistent beer pricing and incremental growth from near-beer categories, Azer tells investors in a research note. The analyst says the company’s pricing "has been a helpful offset to cost headwinds" and that is well positioned to capture consumer downtrading.
Published first on TheFly
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