1344 ET - Constellation Brands' third-quarter volume miss fed into the rapidly growing alcohol negative that has emerged from media coverage of Dry January, Barclays analysts say in a research note. It also came after the U.S. Surgeon General called for cancer warnings on alcoholic beverages. "As such, Friday's print felt to us like a referendum on alcohol consumption," the analysts say on the maker of beer, wine and spirits' latest results. "We recognize it will be tough to change the tide in sentiment in the near term," the analysts say as they cut their EPS estimates for the reminder of fiscal 2025 and fiscal 2026. Still, the analysts believe Constellation Brands' algorithm in a slower growth environment still remains at compelling proposition at this valuation. Shares rise 3.2% to $187.66. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
January 13, 2025 13:44 ET (18:44 GMT)
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