Shares of Molson Coors Beverage Company Class B (NYSE:TAP) traded today at $61.19, eclipsing its 52-week high. Approximately 346,000 shares have changed hands today, as compared to an average 30-day volume of 2.1 million shares.
There is potential upside of 26.3% for shares of Molson Coors Beverage Company Class B based on a current price of $61.03 and an average consensus analyst price target of $77.09.
Over the past year, Molson Coors Beverage Company Class B has traded in a range of $32.11 to $61.19 and is now at $61.03, 90% above that low.
Molson Coors is the fifth- largest beer producer globally, boasting top-two positioning in the U.S., Canada, and many Central European markets. It brews and markets a slew of company-owned brands including Blue Moon, Coors, Miller, Vizzy, and Staropramen. It also sells various partner brands in certain locales such as Topo Chico (licensed from Coca-Cola), Amstel and Dos Equis in Canada (through an exclusive import/license arrangement with Heineken) and Corona in Central Europe (through an agreement with Anheuser-Busch InBev). The firm's go-to-market approach differs by geography as well, primarily using independent distributors in the U.S., but deploying hybrid models in Canada and Europe.
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