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Investment analysts at Morgan Stanley increased their target price on shares of Molson Coors Brewing Company (NYSE:TAP) from $54.00 to $58.00 in a note issued to investors on Wednesday, AnalystRatings.Net reports. Morgan Stanley’s price objective points to a potential downside of 9.42% from the company’s current price.

TAP has been the subject of a number of other recent research reports. Analysts at Societe Generale raised their price target on shares of Molson Coors Brewing Company from $57.00 to $65.00 in a research note on Friday, May 9th. Separately, 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, May 9th. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Molson Coors Brewing Company in a research note on Thursday, May 8th. They now have a $76.00 price target on the stock, up previously from $72.00. One investment analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $64.67.

Molson Coors Brewing Company (NYSE:TAP) traded up 0.20% during mid-day trading on Wednesday, hitting $64.16. 196,618 shares of the company’s stock traded hands. Molson Coors Brewing Company has a one year low of $46.94 and a one year high of $64.17. The stock has a 50-day moving average of $59.53 and a 200-day moving average of $56.16. The company has a market cap of $11.854 billion and a P/E ratio of 16.85.

Molson Coors Brewing Company (NYSE:TAP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.30 earnings per share. Molson Coors Brewing Company’s revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing Company will post $4.28 earnings per share for the current fiscal year.

Molson Coors Brewing Company (NYSE:TAP) is a holding company.

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