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Constellation Brands: Its Strong Fiscal 2Q18 Results

PART:
1 2 3 4 5 6 7
Part 6
Constellation Brands: Its Strong Fiscal 2Q18 Results PART 6 OF 7

Constellation Brands Stock: Do Analysts See More Upside?

Current ratings

As of October 6, 2017, 13 of the 19 analysts (or 68.0%) covering Constellation Brands (STZ) had “buy” ratings for the stock. Six analysts recommended a “hold.” None of the analysts currently have a “sell” recommendation for STZ stock.

Constellation Brands Stock: Do Analysts See More Upside?

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Analysts’ price targets

Following the fiscal 2Q18 results announced on October 5, 2017, several analysts raised their price targets for Constellation Brands stock. The company’s beer segment continued to be a key growth driver in the second quarter and helped beat analysts’ sales and earnings expectations.

On October 6, 2017, JP Morgan raised its price target to $237 from $220. Suntrust Robinson raised its price target to $230 from $210. RBC Capital raised its price target to $226 from $220, and Morgan Stanley increased its target to $245 from $218. Stifel raised its price target to $235 from $216, and Cowen and Company raised its target to $243 from $230. Credit Suisse raised its price target to $211 from $203, and Susquehanna raised its price target to $200 from $193.

As of October 6, 2017, the average 12-month price target for Constellation Brands stock was $227.76. That reflects an upside potential of 8.2% compared to the closing price of $210.11 on October 6, 2017.

As we saw in Part 1 of this series, Constellation Brands stock has risen 37.0% on a year-to-date basis as of October 6, 2017. That’s more than the S&P 500 Index, which has risen 13.9%.

Market positioning

Constellation Brands is a leading alcoholic beverage company with operations in the United States, Mexico, New Zealand, Italy, and Canada. It’s the third-largest beer maker in the United States with a portfolio that consists of high-end imported brands such as Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico. The company has a strong presence in the premium wine and spirits market with brands such as Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, The Prisoner, Svedka Vodka, Casa Noble Tequila, and High West Whiskey.

We’ll take a look at Constellation Brands’ valuation in the concluding part of this series.

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