Molson Coors Brewing Company Upgraded to “Buy” at ISI Group (TAP)
Molson Coors Brewing Company (NYSE:TAP) was upgraded by ISI Group from a “neutral” rating to a “buy” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $75.00 price target on the stock, up from their previous price target of $60.00. ISI Group’s target price points to a potential upside of 17.68% from the company’s current price. The analysts noted that the move was a valuation call.
Molson Coors Brewing Company (NYSE:TAP) opened at 63.73 on Friday. Molson Coors Brewing Company has a 1-year low of $46.94 and a 1-year high of $64.25. The stock has a 50-day moving average of $59.90 and a 200-day moving average of $56.29. The company has a market cap of $11.775 billion and a P/E ratio of 16.74.
Molson Coors Brewing Company (NYSE:TAP) last released its 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.
A number of other firms have also recently commented on TAP. Analysts at Morgan Stanley raised their price target on shares of Molson Coors Brewing Company from $54.00 to $58.00 in a research note on Wednesday. Separately, 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. Finally, 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. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $66.14.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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