Goldman Sachs Upgrades Constellation Brands (STZ) to Buy

Goldman Sachs upgraded Constellation Brands (NYSE: STZ) from Neutral to Buy with a price target of $117.00 (from $97.00).

Analyst Judy E. Hong said, "STZ provides the best vehicle in our beverage coverage universe to pursue themes of 1) accelerating US growth vs. EMs, 2) falling oil prices, 3) exposure to an attractive core Hispanic demographic, and 4) potential for an evolving capital allocation narrative. We raise our EPS estimates by 4%-6% to $4.30/$4.86/$5.85 for Feb FY15-17 to reflect higher beer sales growth. Our EPS estimates are now +1%/+3%/+10% above consensus, respectively."

For an analyst ratings summary and ratings history on Constellation Brands click here. For more ratings news on Constellation Brands click here.

Shares of Constellation Brands closed at $99.82 yesterday.

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