Wells Fargo Sticks to Their Hold Rating for Molson Coors (TAP)
Wells Fargo analyst Christopher Carey maintained a Hold rating on Molson Coors today and set a price target of $43.00.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Carey covers the Consumer Defensive sector, focusing on stocks such as Clorox, Conagra Brands, and General Mills. According to TipRanks, Carey has an average return of 2.3% and a 48.95% success rate on recommended stocks.
In addition to Wells Fargo, Molson Coors also received a Hold from Bernstein’s Nadine Sarwat in a report issued on May 5. However, on May 13, Evercore ISI maintained a Buy rating on Molson Coors (NYSE: TAP).
Based on Molson Coors’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.35 billion and a net profit of $151.3 million. In comparison, last year the company earned a revenue of $2.3 billion and had a net profit of $121 million
Based on the recent corporate insider activity of 60 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.
Read More on TAP:
Disclaimer & DisclosureReport an Issue
- Bonnie Herzog Maintains Buy on Molson Coors, Lifts Price Target to $50 on Achievable Guidance and Long-Term Tailwinds
- Molson Coors Shareholders Reelect Board, Ensuring Governance Continuity
- Molson Coors price target lowered to $46 from $52 at Morgan Stanley
- Molson Coors price target lowered to $41 from $43 at Barclays
- Molson Coors price target raised to $42 from $41 at Deutsche Bank
