Bank of America Securities Sticks to Its Sell Rating for Molson Coors (TAP)
In a report released today, Peter Galbo from Bank of America Securities maintained a Sell rating on Molson Coors, with a price target of $42.00.
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According to TipRanks, Galbo is an analyst with an average return of -0.3% and a 46.06% success rate. Galbo covers the Consumer Defensive sector, focusing on stocks such as Coca-Cola, General Mills, and McCormick & Company.
In addition to Bank of America Securities, Molson Coors also received a Sell from Barclays’s Lauren Lieberman in a report issued on March 25. However, on April 8, Goldman Sachs maintained a Buy rating on Molson Coors (NYSE: TAP).
Based on Molson Coors’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.66 billion and a net profit of $238.3 million. In comparison, last year the company earned a revenue of $2.74 billion and had a net profit of $287.8 million
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TAP in relation to earlier this year.
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- Molson Coors price target lowered to $45 from $52 at Wells Fargo
- Molson Coors price target lowered to $45 from $50 at UBS
- Molson Coors price target lowered to $41 from $45 at Deutsche Bank
- Molson Coors price target lowered to $40 from $47 at Barclays
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