Molson Coors (TAP) Receives a Buy from Evercore ISI

Evercore ISI analyst Robert Ottenstein maintained a Buy rating on Molson Coors today and set a price target of $50.00.

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Ottenstein covers the Consumer Defensive sector, focusing on stocks such as Anheuser-Busch Inbev Sa, Colgate-Palmolive, and Constellation Brands. According to TipRanks, Ottenstein has an average return of 2.5% and a 52.82% success rate on recommended stocks.

In addition to Evercore ISI, Molson Coors also received a Buy from Berenberg Bank’s Javier Gonzalez Lastra in a report issued on February 27. However, on February 25, J.P. Morgan maintained a Hold 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 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.