7/103 sources · 3 publishersUpdated Oct 9, 00:24 UTC
HSBC downgrades Constellation Brands to Hold and cuts price target to $135
HSBC lowered its rating on Constellation Brands from Buy to Hold and reduced its price target from $192 to $135. The downgrade cited weak performance of the company's top beer brands despite a boost from the FIFA World Cup. The stock was trading at $118.39, down about 15% over the past year. Other banks also trimmed targets, with BNP Paribas moving its target to $99 from $110.
Why it matters
HSBC’s lower target suggests less upside for investors and may pressure the share price, which is already 30% below its 52‑week high. The downgrade could influence other analysts and fund managers who follow HSBC’s ratings.
Key facts
- 1HSBC downgraded Constellation Brands from Buy to Hold. investing.com
- 2HSBC cut its price target to $135.00 from $192.00. investing.com
- 3The stock was trading at $118.39 at the time of the downgrade. investing.com
- 4The share price is down 15% over the past year. investing.com
- 5Constellation Brands trades at a P/E ratio of 11.25. investing.com
- 6BNP Paribas adjusted its price target to $99 from $110. marketscreener.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.