Goldman Sachs analyst Bonnie Herzog keeps a Buy rating and $305 price target on Constellation Brands, saying the company’s Q2 results were “solid”, with strong beer shipment growth. The firm adds however that beer depletions of 7.9%, while good, were likely below investor expectations despite the strong scanner data. Goldman Sachs added that while the management boosted earnings guidance, there could be some disappointment given softer depletions.
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