Constellation Brands price target raised to $240 from $220 at Truist

Truist raised the firm’s price target on Constellation Brands to $240 from $220 but keeps a Hold rating on the shares after its Q1 results. The company’s exit rate leaving the month was strong and commentary from the earnings call regarding distributor enthusiasm seems positive, but there are still many factors ahead that remain uncertain, the analyst tells investors in a research note. Constellation Brands’ core consumer is likely still facing the threat of economic uncertainty, and given the real possibility of pricing pressure in domestic beers, it is challenging to find the potential for upside to guidance, the firm adds.