Molson Coors price target raised to $72 from $70 at BofA

BofA raised the firm’s price target on Molson Coors to $72 from $70 and keeps a Neutral rating on the shares after the company hosted a Strategy Day that included what the firm called “a much more constructive message for investors relative to last meeting held in 2018.” Refinement of its growth strategy is expected to support long term growth of “low-single digit” revenue, “mid-single digit” operating income and “high single digit” EPS, notes the analyst, who points out that management suggested FY24 in-line with long term growth targets and did not re-affirm FY23 guidance yesterday, which suggests a potential raise with its Q3 results.