LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

JPMorgan says the drop in this beer stock is overdone and calls it a buying opportunity

Chaim Potok by Chaim Potok
July 5, 2024
in Investing
JPMorgan says the drop in this beer stock is overdone and calls it a buying opportunity
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


Constellation Brands could be poised for a breakout after a 3% sell-off Wednesday and a lukewarm first half of 2024, according to JPMorgan. Shares of the beer maker are ahead almost 4% in 2024, lagging the broader market. Constellation posted better-than-expected fiscal first-quarter results on Wednesday for the quarter ending in May, topping Wall Street’s estimates on the top and bottom lines. However, the beat wasn’t enough to assuage investor worry over weakness in Constellation’s wine and spirits business and led to the stock selling off. JPMorgan analyst Andrea Teixeira said the sell-off was “unjustified” and noted that the recent pullback could present a buying opportunity for investors to capture potential margin improvement thanks to stronger beer sales. STZ YTD mountain Constellation Brands shares in 2024. JPMorgan reiterated an overweight rating on the brewer and raised its price target to $320 per share from $291 in a July 3 note. The bank’s forecast implies about 28% upside from Wednesday’s $250.37 close. Constellation Brands, home to beer brands Modelo Especial and Corona, is the largest domestic beer importer. “Given favorable secular trends in U.S. alcoholic beverage consumption, including premiumization and faster growth in legal-drinking age Hispanic consumers, and further distribution runway for powerhouse Modelo Especial and emerging brands, we view the company’s long-term revenue growth targets for its core beer segment as achievable,” the analyst said. Teixeira also addressed concerns tied to Constellation’s wine and spirits segment, which she says will improve with time as margins grow and the company “premiumizes the portfolio.” “Moreover, the company has taken steps to improve governance and capital allocation decisions, which could result in a more supportive shareholder base over time,” she said.



Source link

You might also like

This is not another Silicon Valley Bank: Traders bet these loan issues are not systemic

Oppenheimer upgrades Jefferies amid credit concern selloff, says First Brands exposure ‘very limited’

These ETF mistakes can ‘quietly erode long-term returns,’ advisor says

Share30Tweet19
Previous Post

NFTs and blockchain bridge Ethiopia’s past and present in new art exhibition

Next Post

Tesla vehicles become approved as government vehicles in China

Chaim Potok

Chaim Potok

Recommended For You

This is not another Silicon Valley Bank: Traders bet these loan issues are not systemic
Investing

This is not another Silicon Valley Bank: Traders bet these loan issues are not systemic

October 17, 2025
Oppenheimer upgrades Jefferies amid credit concern selloff, says First Brands exposure ‘very limited’
Investing

Oppenheimer upgrades Jefferies amid credit concern selloff, says First Brands exposure ‘very limited’

October 17, 2025
These ETF mistakes can ‘quietly erode long-term returns,’ advisor says
Investing

These ETF mistakes can ‘quietly erode long-term returns,’ advisor says

October 17, 2025
Bank of America raises target for AMD, sees nearly 30% rally on new AI hardware platform launch
Investing

Bank of America raises target for AMD, sees nearly 30% rally on new AI hardware platform launch

October 17, 2025
Next Post
Tesla vehicles become approved as government vehicles in China

Tesla vehicles become approved as government vehicles in China

Related News

Reeves vows Labour would ‘drain the swamp’ amid Tory scandals

Reeves vows Labour would ‘drain the swamp’ amid Tory scandals

January 22, 2023
Bitcoin runs toward K after Fed maintains course, projecting two rate cuts in 2025

Bitcoin runs toward $86K after Fed maintains course, projecting two rate cuts in 2025

March 19, 2025
It’s time for Powell to step up – London Business News | London Wallet

It’s time for Powell to step up – London Business News | London Wallet

September 18, 2024

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?