These Analysts Boost Their Forecasts On Constellation Brands Following Upbeat Results
Portfolio Pulse from Avi Kapoor
Constellation Brands Inc (NYSE:STZ) reported better-than-expected Q4 FY24 results with a 7.1% sales growth to $2.14 billion and a comparable EPS of $2.30, exceeding consensus estimates. The company also announced strong operating cash flow, reduced net leverage, and significant shareholder returns. FY25 forecasts include 6%-7% net sales growth and a comparable EPS of $13.50-$13.80. Following the announcement, analysts from BMO Capital, UBS, and HSBC raised their price targets on STZ.
April 12, 2024 | 1:38 pm
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Constellation Brands reported strong Q4 FY24 results, surpassing sales and EPS estimates, with positive FY25 growth forecasts. Analysts raised price targets, indicating confidence in its future performance.
The positive earnings report and upward revision of price targets by analysts reflect strong financial health and growth prospects for Constellation Brands. This typically leads to increased investor confidence and could drive the stock price up in the short term.
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RELEVANCE 100