What's Going On With Constellation Brands Stock Today?
Portfolio Pulse from Nabaparna Bhattacharya
Constellation Brands (NYSE:STZ) shares are trading higher after revising its FY25 EPS forecast and reporting a significant goodwill impairment loss. The company adjusted its sales growth forecasts due to macroeconomic headwinds, but its Beer Business continues to show strong performance. RBC Capital maintains an Outperform rating with a $308 price target.
September 03, 2024 | 4:11 pm
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Constellation Brands revised its FY25 EPS forecast and reported a significant goodwill impairment loss. Despite macroeconomic challenges, its Beer Business shows strong growth. RBC Capital maintains an Outperform rating with a $308 price target.
The upward revision of the EPS forecast, despite a significant goodwill impairment loss, suggests resilience in Constellation Brands' financial outlook. The strong performance of the Beer Business and the reaffirmation of an Outperform rating by RBC Capital with a high price target contribute positively to investor sentiment, likely driving the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100