Citi upgrades rating on Molson Coors stock as market trends stabilize

Investing.com

05 Feb

Investing.com -- Citi upgraded Molson Coors Brewing Co (NYSE:TAP) to "Neutral" from "Sell," saying the beer maker’s market share and volume declines are likely to moderate, while margin resilience and share repurchases should support earnings.

Molson Coors had gained significant market share in 2023 following the Bud Light controversy but saw those gains reverse in 2024, with U.S. volumes declining in the high-single digits in recent quarters. However, Citi expects easier comparisons ahead, with the U.S. beer category cycling weak volume trends from last year.

“TAP market share comparisons get easier in the spring and the beer category will cycle easier comps in the summer. Additionally, TAP’s margin delivery and share repurchases are likely to protect EPS and should allow TAP to guide higher EPS growth in 2025,” analyst at Citi said.

The brokerage also noted that cost efficiencies and a $2 billion share buyback program would help the company sustain high-single-digit EPS growth in 2025. With TAP shares down 20.8% over the past 10 months and trading at a peer-low 9 times estimated 2025 earnings, Citi raised its price target to $57 from a prior estimate.

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However, Citi expects easier comparisons ahead, with the U.S. beer category cycling weak volume trends from last year.“TAP market share comparisons get easier in the spring and the beer category will cycle easier comps in the summer. Additionally, TAP’s margin delivery and share repurchases are likely to protect EPS and should allow TAP to guide higher EPS growth in 2025,” analyst at Citi said.Alphabet sinks as Google-owner unveils spending hike, posts cloud revenue miss","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"TAP":"莫库酒业"},"translate_title":"随着市场趋势稳定，花旗上调Molson Coors股票评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TAP":0.9},"content_text":"Investing.com -- Citi upgraded Molson Coors Brewing Co (NYSE:TAP) to \"Neutral\" from \"Sell,\" saying the beer maker’s market share and volume declines are likely to moderate, while margin resilience and share repurchases should support earnings.\nMolson Coors had gained significant market share in 2023 following the Bud Light controversy but saw those gains reverse in 2024, with U.S. volumes declining in the high-single digits in recent quarters. However, Citi expects easier comparisons ahead, with the U.S. beer category cycling weak volume trends from last year.\n“TAP market share comparisons get easier in the spring and the beer category will cycle easier comps in the summer. Additionally, TAP’s margin delivery and share repurchases are likely to protect EPS and should allow TAP to guide higher EPS growth in 2025,” analyst at Citi said.\nThe brokerage also noted that cost efficiencies and a $2 billion share buyback program would help the company sustain high-single-digit EPS growth in 2025. With TAP shares down 20.8% over the past 10 months and trading at a peer-low 9 times estimated 2025 earnings, Citi raised its price target to $57 from a prior estimate.\nRelated Articles\nCiti upgrades rating on Molson Coors stock as market trends stabilize\nAmazon's cloud business faces crucial test after rivals Microsoft, Google stumble\nAlphabet sinks as Google-owner unveils spending hike, posts cloud revenue miss","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}