Molson Coors (TAP) PT, Estimates Lowered at Credit Suisse Following Q4 Miss

Credit Suisse analyst M. Steib reiterated an Outperform rating while trimming the price target on Molson Coors (NYSE: TAP) to $84.00 (from $80.00) following Q4 results that came in below expectations. The firm lowered estimates.

The analyst noted, "Constant currency sales growth came in at 0.9%, but FX headwinds, higher marketing investments and incentive compensation in the quarter led to a miss on the bottom line."

The firm cut FY15 and FY16 estimates to $3.90 and $4.15 (from $4.20 and $4.45), respectively, to reflect the lower base and expectations for worsening FX headwinds, continued weak volume trends and a higher tax rate.

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 $73.21 yesterday.

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