Molson Coors Brewing (NYSE: TAP) was upgraded by Goldman Sachs from a “neutral” rating to a “buy” rating in a research note issued on Monday, TheFlyOnTheWall.com reports.
The analysts wrote, “We upgrade shares of Molson Coors (TAP) to Buy from Neutral and raise our 12-month price target to $63 (from $47) implying 29% upside. We believe TAP is a compelling risk/reward proposition as the US employment recovery and a new product cycle drive upward earnings revisions and multiple re-rating for this deep value asset. This is an out-of-consensus call as TAP is one of the most under-loved stocks in Consumer Staples with valuation in the bottom decile of the group. We are above consensus in each of the next three years and are forecasting a 17% multiple expansion to 14X P/E as improving volume erodes the negative sentiment.”
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of Molson Coors Brewing from $44.00 to $45.00 in a research note to investors on Thursday, February 21st. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing in a research note to investors on Friday, February 15th. They now have a $46.00 price target on the stock. Finally, analysts at JPMorgan Chase reiterated a “neutral” rating on shares of Molson Coors Brewing in a research note to investors on Friday, February 15th. They now have a $50.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Molson Coors Brewing presently has an average rating of “Hold” and an average price target of $46.78.
Molson Coors Brewing (NYSE: TAP) traded up 4.62% on Monday, hitting $51.19. Molson Coors Brewing has a 52-week low of $37.96 and a 52-week high of $49.29. The stock’s 50-day moving average is currently $46.5. The company has a market cap of $9.290 billion and a price-to-earnings ratio of 20.07.
Molson Coors Brewing (NYSE: TAP) last issued its quarterly earnings data on Thursday, February 14th. The company reported $0.69 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.64 by $0.05. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing will post $4.02 earnings per share for the current fiscal year.
Molson Coors Brewing Company (NYSE: TAP) is a holding company. Its operating subsidiaries include Coors Brewing Company (CBC), operating in the United States prior to the formation of MillerCoors LLC (MillerCoors); Molson Coors Brewing Company (UK) Limited (MCBC-UK), operating in the United Kingdom; Molson Coors Canada (MCC), operating in Canada, and other corporate entities.