Wells Fargo Still Bullish on Corona Parent Company
Constellation's beer sales make analysts optimistic.

Constellation Brands Inc. (STZ) has continually impressed analysts. 

Wells Fargo analysts said that Constellation's beer sales, "which continue to post solid gains in the latest biweekly Nielsen data...reinforces [Wells Fargo's] bullish view on [Constellation] as it gains momentum in the lucrative lower calorie/carb better-for-you market."

Wells Fargo reiterated its Outperform rating on Constellation. 

"All-in, we believe [Constellation] remains well-positioned at the high-end of the beer category and we remain optimistic that Corona's newest brands have the potential to be highly incremenral to [Constellation]," said Wells Fargo.

The price target is listed at $270. 

Constellation hovered around $230 and was up nearly 2% in trading on Tuesday, June 12.

Constellation is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells STZ? Learn more now.

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