{"id":26112,"date":"2023-06-22T15:21:06","date_gmt":"2023-06-22T19:21:06","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/citi-opens-90-day-upside-catalyst-watch-on-molson-coors-brewing-due-to-bud-light-controversy\/"},"modified":"2023-06-22T15:21:07","modified_gmt":"2023-06-22T19:21:07","slug":"citi-opens-90-day-upside-catalyst-watch-on-molson-coors-brewing-due-to-bud-light-controversy","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26112","title":{"rendered":"Citi opens 90-day upside catalyst watch on Molson Coors Brewing due to Bud Light controversy"},"content":{"rendered":"
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\u00a9 Reuters. Citi opens 90-day upside catalyst watch on Molson Coors Brewing due to Bud Light controversy<\/span>
\n<\/i>\n<\/div>\n

Citi opened a 90-day upside catalyst watch on Neutral-rated Molson Coors <\/span><\/span> Brewing (NYSE:) on Wednesday, maintaining a $72 price target on the stock.<\/p>\n

Analysts said the firm made the move given their expectation for continued upside in the stock on benefits from the Bud Light controversy, which has driven a 15.8% increase in sales growth for TAP in Nielsen data for the Beer, FMB, and Cider categories in the period from 4\/2\/23 through 6\/3\/23.<\/p>\n

“While TAP’s stock is already up 28% since 4\/3\/23, we expect the impact of the controversy to last through the summer, including the July 4 holiday (which is the highest consumption holiday for beer), which should result in upside for sales and profitability, notably not yet reflected in TAP’s guidance,” wrote analysts.<\/p>\n

Citi’s second-quarter EPS estimate for TAP of $1.56 is well above the Street estimate at $1.37. Its full-year EPS estimate of $4.70 is also well above the Street estimate at $4.29.<\/p>\n

TAP shares are up over 31% so far in 2023.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Citi opens 90-day upside catalyst watch on Molson Coors Brewing due to Bud Light controversy Citi opened a 90-day upside catalyst watch on Neutral-rated Molson Coors Brewing (NYSE:) on Wednesday, maintaining a $72 price target on the stock. Analysts said the firm made the move given their expectation for continued upside in the […]<\/p>\n","protected":false},"author":1,"featured_media":3353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-26112","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCiti opens 90-day upside catalyst watch on Molson Coors Brewing due to Bud Light controversy | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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