In a report released yesterday, Christopher Carey from Wells Fargo maintained a Sell rating on Molson Coors (TAP – Research Report), with a price target of $55.00. The company’s shares closed yesterday at $57.08.
Carey covers the Consumer Defensive sector, focusing on stocks such as Keurig Dr Pepper, General Mills, and Molson Coors. According to TipRanks, Carey has an average return of 4.9% and a 54.62% success rate on recommended stocks.
In addition to Wells Fargo, Molson Coors also received a Sell from Citi’s Filippo Falorni in a report issued yesterday. However, today, Barclays maintained a Hold rating on Molson Coors (NYSE: TAP).
TAP market cap is currently $12.15B and has a P/E ratio of 11.42.
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Molson Coors (TAP) Company Description:
Molson Coors Beverage Co. is a holding company, which engages in the provision of beer. It operates through the following segments: United States, Canada, Europe, International, and Corporate. The United States segment consists of production, marketing and sales of its brands, and other owned and licensed brands in the United States. The Canada segment includes production, marketing and sales of its brands, and other owned and licensed brands in Canada. The Europe segment comprises of production, marketing and sales of its brands as well as a number of regional brands in the United Kingdom, Republic of Ireland, and Central Europe. The International segment focuses its operations on Latin America, Europe, Asia Pacific, and Africa. The Corporate segment represents interest and certain other general and administrative costs that are not allocated to any of the operating segments. It operates under the brands Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, taropramen, Carling, Molson Canadian, Creemore Springs, Cobra, Doom Bar, Henry’s Hard and Leinenkugel’s. The company was founded in 1786 and is headquartered in Denver, CO.
