Corona maker Constellation Brands rises after Citigroup upgrades to 'buy'

Constellation Brands

18/03/2026 10:42

** Shares of Constellation Brands STZ.N, which makes Corona beer, gain ~3% to $156 in premarket trading

** Citigroup upgrades stock to "buy" from "neutral" on expectations of faster beer sales growth in Q4 and financial year 2027

** Anticipates steady improvement over the following year, helped by easier comparisons and a boost in demand during the FIFA World Cup

** "For FY'27, we acknowledge headwinds from higher depreciation, aluminum, and FX, but believe they could be partially offset by positive volumes, price, and cost savings," adds Citigroup

** Brokerage raises price target to $175 from $155, representing a 15.38% upside to the stock's last close

** Stock rated "buy" by 24 analysts, on average; their median PT is $169, per data compiled by LSEG

** As of last close, stock up ~10% YTD

 (Reporting by Kanishka Ajmera in Bengaluru)

 ((mail to: Kanishka.Ajmera@thomsonreuters.com))