STZ - Cheers to Growth: Constellation Brands Gets Upgrade Analyst Bullish on Beer Sales | Benzinga
Argus Research analyst John Staszak upgraded the shares of Constellation Brands Inc (NYSE:STZ) from Hold to Buy with a price target of $306.
In fiscal 4Q24 ended February 30, 2024, Constellation's comparable sales rose 7% to $2.14 billion and topped the consensus estimate of $2.10 billion.
The higher sales reflected an approximately 11% increase in beer revenue to more than $1.70 billion, said the analyst.
The analyst raised the FY25 EPS estimate to $14.20 from $13.90 and set an FY26 estimate of $15.30 per share following the company's upbeat FY25 EPS outlook of $13.50-$13.80.
The analyst rated the financial strength of Constellation ...