Berenberg Starts Molson Coors (TAP) at Buy

Berenberg analyst Javier Lastra initiates coverage on Molson Coors (NYSE: TAP) with a Buy rating and a price target of $86.90.

The analyst comments: "Molson Coors stock is priced as an ex-growth stock, suggesting that investors do not fully believe the company can deliver sustained top-line growth. This will be difficult to deliver from the beer operations given the demographic backdrop in North America, which is why management is building the blocks to diversify the sources of growth. It is still early days, though. We estimate that these alternative categories to beer will only represent <5% of FY25E net sales. However, the bar is very low given where the stock's valuation is currently."

For an analyst ratings summary and ratings history on Molson Coors click here. For more ratings news on Molson Coors click here.

Shares of Molson Coors closed at $61.24 yesterday.

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