Molson Coors price target raised to $78 from $70 at BofA

BofA analyst Bryan Spillane raised the firm’s price target on Molson Coors (TAP) to $78 from $70 and keeps a Buy rating on the shares. Q4 earnings and guidance came in ahead of expectations, driven by share repurchases and underlying sales and profits that were broadly in line with the firm’s forecasts, the analyst tells investors. A combination of more normal U.S. beer volume comparisons, manageable cost inflation, and new revenue streams like Fever Tree and Zoa should set the company up for “a healthy balance of sales growth and margin expansion” in 2025, the analyst added.