Molson Coors price target raised to $87 from $76 at Stifel Stifel increased its price target on Molson Coors (TAP) for several reasons, including the firm's belief that there is now a 50% chance that AB InBev (BUD) will try to buy SABMiller (SBMRY) over the next year, up from 30% previously. Additionally, Stifel reports that Molson Coors plans to cut costs in Canada more than previously expected, and the firm still expects the company to increase its dividend about 10% and resume share repurchases next year. The firm keeps a Buy rating on Molson Coors.
Molson Coors downgraded to Neutral at Nomura As previously reported, Nomura downgraded Molson Coors to Neutral from Buy and lowered its price target to $74 from $82. The firm believes U.S. volume and pricing trends have worsened year-to-date and lowered its probability the company will buy the rest of MillerCoors in the U.S.