Constellation Brands price target lowered to $245 from $300 at Piper Sandler

Piper Sandler lowered the firm’s price target on Constellation Brands (STZ) to $245 from $300 and keeps an Overweight rating on the shares. The firm continues to expect long-term, sustainable U.S. share gains in beer. Piper believes its core Modelo, Corona and Pacifico brands can drive long-term sustainable top-line growth in line with its algorithm. Tariffs remain a wild card and a risk, though beer is not a national security issue and would therefore seem to be at lower risk of being implemented, it adds.