Constellation Brands price target raised to $309 from $295 at Barclays

Barclays raised the firm’s price target on Constellation Brands to $309 from $295 and keeps an Overweight rating on the shares. In light of what remains a challenged U.S. beer category, the firm lowered industry volume assumptions by 100 basis points for 2024 and 2025. The summer selling season did little to course correct the U.S. beer industry, with Constellation’s guidance update in early September ?validating the muted picture painted by scanner data,” the analyst tells investors in a research note.