BofA upgrades Constellation Brands to Neutral and raises price target after Democratic win

Bank of America upgraded Constellation Brands (STZ) to Neutral from Underperform, citing reduced immigration‑policy risk under a Democratic Congress. The bank also lifted its price target to $160 from $120 while keeping its near‑term earnings estimates unchanged. STZ shares jumped about 7.6% following the rating change. The company reported its fiscal‑2027 Q2 beer business net sales up 5% and operating income up 1% year‑over‑year.

The upgrade and higher price target may support STZ’s share price, while the unchanged earnings outlook signals no immediate earnings impact. Investors will watch how the rating shift influences valuation multiples.

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