Piper Sandler lowered the firm’s price target on Molson Coors (TAP) to $53 from $58 and keeps a Neutral rating on the shares. Molson Coors’ retail momentum continues to slow, with Q2-to-date U.S. retail volumes down about 5% as the company laps elevated shipments from a year ago, the analyst tells investors in a research note. Aluminum prices are adding cost pressure behind elevated Midwest Premium rates, while U.S. beer category trends remain pressured from macro factors and societal shifts, the firm adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
