Molson Coors (TAP, $54.76) gets "underperform" rating from Credit Suisse
Credit Suisse initiated coverage on Molson Coors Brewing with an "underperform" rating.
In a note to investors, Credit Suisse mentioned the brewing company’s significant challenges in its portfolio exposure, and said they apprehend “the time for bold decisions has passed" for Molson Coors. The investment bank also pointed out that a levered balance sheet might be hindering the ability for Molson to make “bold” decisions.
Credit Suisse also indicated that Molson Coors shares have fallen 40% since YE 2016 with fundamentals in nearly every region having worsened. The bank does not perceive any clear path toward stabilization for the brewing company.
A month ago, Molson Coors reported adjusted earnings of 52 cents per share, lower than analysts’ expectations of 57 cents per share (based on Zacks poll).
The Moving Average Convergence Divergence (MACD) for TAP turned positive on August 16, 2024. Looking at past instances where TAP's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
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Notable companies
The most notable companies in this group are Anheuser-Busch INBEV SA/NV (NYSE:BUD), Constellation Brands (NYSE:STZ), Molson Coors Beverage Company (NYSE:TAP).
Industry description
The alcoholic beverage market includes beer, wine, and spirits. From $230 billion in 2015, the industry has grown to around $250 billion by 2019. In recent years, alcoholic beverage makers have been looking to expand distribution and purchase channels, such as through online stores (e.g. e-commerce platform Drizly) and convenience stores. Anheuser-Busch In Bev and Diageo are major global alcoholic beverage companies, while U.S.-owned companies include Constellation Brands and Brown-Forman Corp. among several others.
Market Cap
The average market capitalization across the Beverages: Alcoholic Industry is 19.91B. The market cap for tickers in the group ranges from 2.66K to 19.33T. PBGDF holds the highest valuation in this group at 19.33T. The lowest valued company is WBEVQ at 2.66K.
High and low price notable news
The average weekly price growth across all stocks in the Beverages: Alcoholic Industry was 1%. For the same Industry, the average monthly price growth was 2%, and the average quarterly price growth was -8%. EAST experienced the highest price growth at 82%, while BDWBY experienced the biggest fall at -8%.
Volume
The average weekly volume growth across all stocks in the Beverages: Alcoholic Industry was 520%. For the same stocks of the Industry, the average monthly volume growth was 433% and the average quarterly volume growth was 132%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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