Molson Coors Brewing Company Given New $65.00 Price Target at Societe Generale (TAP)
Stock analysts at Societe Generale hoisted their price objective on shares of Molson Coors Brewing Company (NYSE:TAP) from $57.00 to $65.00 in a report issued on Friday, Stock Ratings News reports. Societe Generale’s price target would indicate a potential upside of 1.86% from the stock’s previous close.
Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 63.81 on Friday. Molson Coors Brewing Company has a one year low of $46.94 and a one year high of $64.06. The stock has a 50-day moving average of $59.26 and a 200-day moving average of $56.00. The company has a market cap of $11.749 billion and a P/E ratio of 20.60.
Molson Coors Brewing Company (NYSE:TAP) last announced its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $816.00 million for the quarter, compared to the consensus estimate of $818.43 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing Company will post $4.21 earnings per share for the current fiscal year.
A number of other firms have also recently commented on TAP. Analysts at JPMorgan Chase & Co. raised their price target on shares of Molson Coors Brewing Company from $60.00 to $65.00 in a research note on Friday. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Molson Coors Brewing Company in a research note on Thursday. They now have a $76.00 price target on the stock, up previously from $72.00. Finally, analysts at Nomura raised their price target on shares of Molson Coors Brewing Company from $60.00 to $62.00 in a research note on Thursday. One analyst has rated the stock with a hold rating and two have given a buy rating to the company’s stock. Molson Coors Brewing Company has a consensus rating of “Buy” and an average price target of $66.00.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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