Evercore ISI Keeps Their Buy Rating on Molson Coors (TAP)

In a report released today, Robert Ottenstein from Evercore ISI maintained a Buy rating on Molson Coors, with a price target of $47.00.

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Ottenstein covers the Consumer Defensive sector, focusing on stocks such as Anheuser-Busch Inbev Sa, Constellation Brands, and Procter & Gamble. According to TipRanks, Ottenstein has an average return of 3.9% and a 54.05% success rate on recommended stocks.

In addition to Evercore ISI, Molson Coors also received a Buy from Goldman Sachs’s Bonnie Herzog in a report issued on June 3. However, today, Jefferies maintained a Hold 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 negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TAP in relation to earlier this year. Last month, Geoffrey Molson, a Director at TAP sold 1,245.00 shares for a total of $52,912.50.