JP Morgan Initiates Coverage On Constellation Brands to Overweight with Price Target $183

JP Morgan Initiates Coverage On Constellation Brands(STZ). In a research note issued to the investors, the brokerage major Announces the price-target to $183 per share. The shares have been rated Overweight. The rating by the stock financial advisor at JP Morgan was issued on Mar 21, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 1, 2017, HSBC said it Upgrades its rating on Constellation Brands. According to the research note, HSBC Raises the price target to $153 per share from a prior target of $132. The shares have been rated ‘Hold’ by the firm.

Constellation Brands (STZ) made into the market gainers list on Fridays trading session with the shares advancing 0.82% or 1.34 points. Due to strong positive momentum, the stock ended at $164.06, which is also near the day’s high of $164.34. The stock began the session at $162.82 and the volume stood at 11,51,617 shares. The 52-week high of the shares is $173.55 and the 52 week low is $144. The company has a current market capitalization of $32,166 M and it has 19,60,59,680 shares in outstanding.

Constellation Brands(STZ) last announced its earnings results on Oct 5, 2016 for Fiscal Year 2017 and Q2.Company reported revenue of $2.02B. Analysts had an estimated revenue of $1.97B. Earnings per share were $1.77. Analysts had estimated an EPS of $1.66.

Several Insider Transactions has been reported to the SEC. On Jan 18, 2017, F Paul Hetterich (Exec. Vice President) purchased 752 shares at $148.62 per share price.Also, On Aug 1, 2016, Thomas Michael Kane (Executive VP, Chief HR Officer) sold 7,000 shares at $163.26 per share price.On Jul 6, 2016, David Eric Klein (Exec Vice Pres. & CFO) sold 14,300 shares at $166.27 per share price, according to the Form-4 filing with the securities and exchange commission.

Constellation Brands Inc. is an international beverage alcohol company. The Company’s operating segments include Beer Wine and Spirits and Corporate Operations and Other. The Company’s wine portfolio is complemented by select spirits brands and other select beverage alcohol products. It is a multi-category supplier (beer wine and spirits) of beverage alcohol in the United States. The Company’s customers include wholesale distributors retailers on premise locations and government alcohol beverage control agencies. In the United States the Company operates 19 wineries using varieties of grapes grown in the Napa Sonoma Monterey and San Joaquin regions of California. It also operates eight wineries in Canada four wineries in New Zealand and five wineries in Italy. The Company’s Canadian whisky requirements are produced and aged at its Canadian distillery in Lethbridge Alberta.

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