Elliott Partnership & Easier Comps: Why STZ Is In 'Best Ideas List' For Wedbush In The Brewing Landscape
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Gerald Pascarelli has reiterated an Outperform rating on Constellation Brands Inc (STZ) and raised the price target from $275 to $300. The analyst added STZ to the Wedbush Best Ideas List (BIL). STZ is expected to report 2Q FY24 earnings on October 5. The analyst predicts a beer revenue growth of 9.7% for the quarter and expects margins to improve in the back half of the year. The recent partnership with Elliott Management is also expected to strengthen the company's corporate governance structure.
October 03, 2023 | 6:26 pm
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Constellation Brands Inc (STZ) has received an Outperform rating from Wedbush analyst Gerald Pascarelli, who also raised the price target from $275 to $300. The analyst predicts a beer revenue growth of 9.7% for the quarter and expects margins to improve in the back half of the year.
The Outperform rating and raised price target by Wedbush analyst Gerald Pascarelli indicates a positive outlook for STZ. The predicted beer revenue growth of 9.7% for the quarter and expected improvement in margins in the back half of the year also suggest potential growth for the company. The recent partnership with Elliott Management is expected to strengthen the company's corporate governance structure, which could further boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100