Wells Fargo Maintains Overweight Rating for Constellation Brands: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wells Fargo has maintained its Overweight rating for Constellation Brands (NYSE:STZ) and increased its price target from $280.00 to $285.00. Constellation Brands is a leading provider of alcoholic beverages in the U.S., with 80% of its revenue coming from Mexican beer imports. The company also owns a 36% stake in Canopy Growth, a leader in medicinal and recreational cannabis products in Canada.
October 03, 2023 | 5:00 pm
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POSITIVE IMPACT
Wells Fargo's maintained Overweight rating and increased price target for Constellation Brands could potentially boost investor confidence and positively impact the company's stock price.
Analyst ratings and price targets can significantly influence investor sentiment and stock prices. In this case, Wells Fargo's decision to maintain an Overweight rating and raise the price target for Constellation Brands indicates a positive outlook for the company, which could lead to an increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100