Molson Coors Brewing Company PT Raised to $87.00 at Stifel (TAP)
Research analysts at Stifel upped their target price on shares of Molson Coors Brewing Company (NYSE:TAP) from $76.00 to $87.00 in a report released on Thursday. The firm currently has a “buy” rating on the stock. Stifel’s target price indicates a potential upside of 17.79% from the stock’s previous close.
In other Molson Coors Brewing Company news, CEO Mark Hunter unloaded 25,549 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $71.45, for a total transaction of $1,825,476.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on TAP. Analysts at Morgan Stanley upgraded shares of Molson Coors Brewing Company from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. They noted that the move was a valuation call. Separately, analysts at Zacks upgraded shares of Molson Coors Brewing Company from an “underperform” rating to a “buy” rating in a research note on Wednesday, June 11th. They now have a $80.00 price target on the stock, up previously from $55.00. Finally, analysts at Goldman Sachs raised their price target on shares of Molson Coors Brewing Company to $79.00 in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Molson Coors Brewing Company currently has a consensus rating of “Buy” and a consensus target price of $75.56.
Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 73.93 on Thursday. Molson Coors Brewing Company has a 52 week low of $47.16 and a 52 week high of $75.55. The stock has a 50-day moving average of $67.39 and a 200-day moving average of $59.27. The company has a market cap of $13.659 billion and a P/E ratio of 19.44.
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 $4.31 earnings per share for the current fiscal year.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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