NEW YORK (TheStreet) -- Molson Coors Brewing (TAP) was upgraded to "equal weight" from "underweight" by analysts at Morgan Stanley (MS) on Friday with a $79 stock valuation.
"We believe that a focus on strategic potential in general in the consumer packaged goods space, and recent press reports regarding a potential Anheuser-Busch InBev (BUD) acquisition of SABMiller, has caused the market to assign a greater strategic value to TAP, which we believe is sustainable," said analysts.
Molson Coors Brewing shares are up 0.9% to $73.83 in early market trading today.
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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, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."