Bud Light's recent troubles should worsen in the summer, enough to turn Roth MKM bullish on the stocks of Constellation Brands and Boston Beer.
Bud Light’s recent troubles should worsen in the summer, to the benefit of its competition’s brands, enough to turn Roth MKM analyst Bill Kirk bullish on the stocks of Constellation Brands Inc. and Boston Beer Co. Inc.
Kirk raised on Tuesday his rating on Modelo, Corona, Pacifico beer parent Constellation Brands to buy, after being at neutral since January 2021, while boosting his stock price target to $270 from $216. Constellation Brands’ stock STZ rose 1.3% in premarket trading Tuesday, while Anheuser-Busch shares BUD slumped 2.4% toward a six-month low.
“With temperatures warming and substitutability with Bud Light increasing, recent weeks have seen 13 [percentage points] of outperformance,” Kirk wrote. “This trend should continue as Bud Light [declines/peak] over summer holidays.”
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Anheuser-Busch offering free beer after recent Bud Light backlashThe promotion comes amid reports of Bud Light’s plummeting sales after the brand partnered with a transgender influencer.
Consulte Mais informação »
Bud Light Sponsors Cincinnati Pride Parade as Sales PlummetAnheuser-Busch’s Bud Light is one the brands sponsoring the upcoming Cincinnati Pride Parade as the brand’s sales continue to plummet following a boycott after the company partnered with transgender activist Dylan Mulvaney.
Consulte Mais informação »
The ESG empire strikes back following Bud Light embarrassmentThe Wall Street Journal ran a deep dive article last week exploring “how Bud Light blew it,” but it somehow missed the most important part of the story.
Consulte Mais informação »
Photo of 18-pack of Bud Light selling for $2.99 mocked'The desperation is real,' Twitter Spaces host Tara Bull wrote on Twitter as backlash against the beer company continues.
Consulte Mais informação »
Roth sees more than 20% upside for Boston Beer heading into the summerAnalyst Bill Kirk estimates more than 20% upside for Boston Beer's shares ahead of summer 2023.
Consulte Mais informação »
Rockies’ Bud Black passes Don Baylor, now ranks No. 2 in wins by Colorado managerOver the weekend, Bud Black was asked, more than once, about a major upcoming milestone. That is, passing the late Don Baylor to become the manager with the second-most wins in Rockies history.
Consulte Mais informação »