Bonnie Herzog, an analyst from Goldman Sachs, reiterated the Buy rating on Molson Coors (TAP – Research Report). The associated price target was raised to $79.00.
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Bonnie Herzog’s rating is based on Molson Coors’ strategic advancements and positive outlook presented at the CAGNY event. The company’s leadership expressed confidence in the ongoing momentum of its core brands, such as Miller Lite and Coors Light, which have maintained significant market share gains in the U.S. This stability in market share, along with upcoming innovations, including the expansion of Peroni distribution and new product introductions, positions Molson Coors for continued growth.
Furthermore, management’s focus on premiumization, cost efficiencies, and strategic expansions beyond traditional beer offerings is expected to enhance gross margins and sustain profitability. The company’s deliberate approach to innovation and targeted marketing, alongside its advantageous shelf space positioning, provides additional growth avenues. These factors collectively underpin the optimism about Molson Coors’ ability to sustain its recent progress, supporting Bonnie Herzog’s Buy rating on the stock.
Herzog covers the Consumer Defensive sector, focusing on stocks such as Altria Group, Coca-Cola, and Molson Coors. According to TipRanks, Herzog has an average return of 4.7% and a 57.00% success rate on recommended stocks.
In another report released on February 14, Bank of America Securities also maintained a Buy rating on the stock with a $78.00 price target.