In a report released today, Pablo Zuanic from Susquehanna assigned a Buy rating to Molson Coors (NYSE: TAP), with a price target of $80. The company’s shares closed yesterday at $60.26, close to its 52-week low of $58.75.
“Canada is about 15% of TAP EBITDA, and in recent years the region has been a headwind to TAP EBITDA growth.”
According to TipRanks.com, Zuanic is a 3-star analyst with an average return of 3.5% and a 51.9% success rate. Zuanic covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Constellation Brands Inc, and Anheuser-Busch Inbev Sa.
Currently, the analyst consensus on Molson Coors is Moderate Buy and the average price target is $75.14, representing a 24.7% upside.
In a report issued on May 3, BMO Capital also maintained a Buy rating on the stock with a $85 price target.
The company has a one-year high of $97.50 and a one-year low of $58.75. Currently, Molson Coors has an average volume of 2.29M.
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Molson Coors Brewing Co. is a holding company, which engages in the provision of beer. It operates through the following segments: United States, Canada, Europe, International, and Corporate. The United States segment consists of production, marketing and sales of its brands, and other owned and licensed brands in the United States.