Will This Upgrade Help Molson Coors (TAP) Stock Today?

NEW YORK (TheStreet) -- Molson Coors Brewing Co. (TAP) was upgraded to "buy" from "underperform" at Bank of America/Merrill Lynch  (BAC) on Wednesday.

The firm said it raised its rating on the brewing company based on an improvement in fundamentals and the likelihood Molson will return more cash to investors.

Bank of America/Merrill Lynch raised its price target on Molson Coors to $80 from $55.

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Separately, TheStreet Ratings team rates MOLSON COORS BREWING CO as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate MOLSON COORS BREWING CO (TAP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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