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 Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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