Constellation Brands

STZ · NYSE

$132.74+$1.67 (+1.27%)TodayMarket closed · Oct 20, 7:57 PM ET

Prev close $131.07

STZ analyst rating

HoldConsensus of 21 analysts over the last 12 months. 57% rate it a buy.

Strong buy0
Buy12
Hold7
Underperform2
Sell0

12-month price target · 25 analysts

Average $167.94 (+26.5% upside)

Low: $111.10
Now: $132.74
High: $219.45

Upgrades and downgrades

The latest rating actions, newest first

STZ analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 8, 2026	Maintains	Neutral	$133.00 → $136.00	20%
Freedom Broker	Oct 8, 2026	Upgrade	Hold → Buy	$173.00 → $158.00	44%
UBS	Oct 8, 2026	Maintains	Buy	$145.00 → $144.00	62%
Piper Sandler	Oct 8, 2026	Maintains	Neutral	$161.00 → $125.00	47%
Deutsche Bank	Oct 8, 2026	Maintains	Hold	$136.00 → $127.00	62%
RBC Capital	Oct 8, 2026	Maintains	Outperform	$185.00 → $182.00	45%
Needham	Oct 8, 2026	Maintains	Buy	$185.00 → $150.00	32%
Morgan Stanley	Oct 8, 2026	Maintains	Equal-Weight	$158.00 → $145.00	67%
HSBC	Oct 8, 2026	Downgrade	Buy → Hold	$192.00 → $135.00	60%
Wells Fargo	Oct 5, 2026	Maintains	Overweight	$170.00 → $140.00	57%

The case for and against

Updated Oct 21, 2026

Bull case

Constellation Brands is positioned favorably because its beer business continues to outperform, with shipments up 5.5% and depletions showing resilience despite a softer off-premise trend, while encouraging September depletions point to a path toward the high end of beer guidance. The company also benefits from a focused portfolio centered on dominant U.S. Hispanic beer brands such as Modelo and Corona, plus pruning of lower-quality wine and spirits assets that should improve consistency and margin quality over time. Even with 2H margin headwinds from marketing spend and SG&A, 1H beer operating margin of 39% and ongoing share gains, innovation, and distribution wins support an upside-biased fundamental outlook.

Bear case

Constellation Brands is facing a fragile fundamental setup because its U.S.-only beer franchise is highly concentrated in Mexican imports, leaving limited geographic diversification while off-premise trends weakened and depletion misses hurt sentiment. Management’s fully reiterated FY'27 guidance still implies just 0.8% beer revenue growth and 37.3% margin, but the need for beer marketing above 10% of sales in Q2 and Q3, plus Veracruz commissioning costs, points to near-term margin pressure. With wine still shrinking after divestitures, Canopy Growth and the Mexico joint venture adding limited support, and EPS estimates cut to $11.79 for FY'27 and $12.19 for FY28, downside risk to revenue, margins, and valuation remains elevated.

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