Molson Coors (TAP) Received its Third Buy in a Row


After Citigroup and Guggenheim gave Molson Coors (NYSE: TAP) a Buy rating last month, the company received another Buy, this time from MKM Partners. Analyst William Kirk maintained a Buy rating on Molson Coors today and set a price target of $59.00. The company’s shares closed last Friday at $41.01.

According to TipRanks.com, Kirk is ranked #5071 out of 6217 analysts.

Currently, the analyst consensus on Molson Coors is a Hold with an average price target of $49.27.

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Based on Molson Coors’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.49 billion and net profit of $164 million. In comparison, last year the company earned revenue of $2.42 billion and had a net profit of $76 million.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock.

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Molson Coors Beverage 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. The Canada segment includes production, marketing and sales of its brands, and other owned and licensed brands in Canada. The Europe segment comprises of production, marketing and sales of its brands as well as a number of regional brands in the United Kingdom, Republic of Ireland, and Central Europe. The International segment focuses its operations on Latin America, Europe, Asia Pacific, and Africa. The Corporate segment represents interest and certain other general and administrative costs that are not allocated to any of the operating segments. It operates under the brands Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, taropramen, Carling, Molson Canadian, Creemore Springs, Cobra, Doom Bar, Henry’s Hard and Leinenkugel’s. The company was founded in 1786 and is headquartered in Denver, CO.

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