Molson Coors double upgraded to Overweight at Wells Fargo

As previously reported, Wells Fargo double upgraded Molson Coors (TAP) to Overweight from Underweight with a price target of $74, up from $52. The firm is moving on from its cautious view, stating that it now wants to “chase a model where unique cash returns support EPS growth” with little EBIT growth needed, at a historically low valuation with catalysts. Staples may struggle with normalizing growth and valuation pressure in 2025, but Molson Coors’ ability to return cash at low valuation “seems unique,” the analyst tells investors.