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via seekingalpha.comMarkets

Wells Fargo downgrades Molson Coors to Underweight, target cut to $36

FROM THE WIRE · SEEKINGALPHA.COM

[Brewers Coors And Miller Plan Merger] Scott Olson/Getty Images News After reporting mixed third-quarter results [https://seekingalpha.com/news/4666386-molson-coors-gives-mixed-q3-result]on Thursday (beat on EPS, lower than expected sales), Molson Coors (TAP…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA major broker downgrade on a beverage name can weigh on the stock in the short term.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Wells Fargo downgraded Molson Coors to Underweight from Equal Weight.
  2. 02The target price was cut to $36, implying 15% downside.
  3. 03Analyst Chris Carey flags gross margin pressure, earnings and valuation risks.
  4. 04Third-quarter results were mixed, with EPS beating but sales below expectations.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Molson Coors Beverage CompanyTAPStock40.42 USD-0.26%today -4.29%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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