(News Bulletin 247) – While lowering its price target from $315 to $310, Jefferies reaffirms its ‘buy’ advice on Constellation Brands, for which it expects expectations to be exceeded and targets raised in its quarterly results scheduled for Thursday.

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“Strong beer trade momentum, Nielsen data, optimistic comments from management and a cautious consensus on the gross margin rate for the quarter are the main drivers of the potential upside,” the broker said.

In the long term, Jefferies puts forward as assets of the file, an exposure to favorable demographic trends, a defensive character in an uncertain macroeconomics, a concentration on the United States and an undervaluation of the action.

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