Susquehanna analyst Pablo Zuanic maintained a Buy rating on Molson Coors (NYSE: TAP) today and set a price target of $80. The company’s shares opened today at $61.79, close to its 52-week low of $58.75.
Zuanic noted:
“In the context of the great bearishness around this stock (12% FCF yield) and secular concerns about beer (mostly overdone), we think the analyst day had three overarching positive takeaways: a) starting 3Q19, the dividend will be ramped up to 25% of LTM EBITDA (vs.”
According to TipRanks.com, Zuanic is a 3-star analyst with an average return of 4.0% and a 54.3% 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.
Molson Coors has an analyst consensus of Moderate Buy, with a price target consensus of $75.14.
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Based on Molson Coors’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $278 million. In comparison, last year the company had a net profit of $201 million.
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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.
