Molson Coors upgraded at BofA/Merrill As previously reported, BofA/Merrill upgraded Molson Coors two notches to Buy from Underperform. The firm upgraded shares due to improving fundamentals in the U.S. and solid performance in Europe, Canadian cost savings initiatives, the Miller Coors JV strategic value and relative valuation. Price target raised to $80.
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.