Constellation Brands (STZ) PT Raised to $314 at Jefferies

Jefferies analyst Kaumil Gajrawala raised the price target on Constellation Brands (NYSE: STZ) to $314.00 (from $292.00) while maintaining a Buy rating.

The analyst comments "Beer grinds higher and should continue to do so, with +LDD% shelf space gains setting up a (+) F25. Wine & Spirits continues to struggle - a distraction in this durable volume growth business which features expanding margins, better FCF, and (potentially) more capital returns. At 14x EBITDA, shares have yet to fully appreciate this."

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