Goldman Sachs Upgrades Molson Coors to "Buy" (TAP)

Goldman Sachs Upgrades Molson Coors to “Buy” (TAP)


On Monday, Goldman Sachs upgraded Molson Coors Brewing Company (TAP). The analysts view the beer and alcohol manufacturer as a compelling risk/reward play.

Citing an improving US employment situation and a new product cycle that should drive earnings growth, the analysts upgraded TAP from “Neutral” to “Buy.” They now see shares reaching $63, up from the previous target of $47. This new valuation suggests a 29% upside to Thursday’s closing price of $48.93.

Molson Coors shares were inactive during pre-market trading on Monday. The stock is up +8.13% over the past year.

The Bottom Line
Shares of Molson Coors (TAP) have a dividend yield of 2.62% based on Thursday’s closing price of $48.93 and the company’s annualized dividend payout of $1.28 per share.

Molson Coors Brewing Company (TAP) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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