Molson Coors Brewing (NYSE:TAP) Price Target & New Coverage by Deutsche Bank
Deutsche Bank analyst started coverage with a “Buy” rating on Molson Coors Brewing (NYSE:TAP) today and set a price target of $89.0. The company’s shares opened today at 83.11.
Out of 9 brokers covering Molson Coors Brewing, 6 rate it a Buy, 3 indicate a Hold while 0 suggest a Sell. The highest target is $130 and the lowest is $84 according to Thomson/First Call. The 12-month mean target is $106.56, which means upside potential of 28.22% over the current price.
Emerging Sovereign Group Llc had the most significant stake with ownership of 1.03M shares as of Q2 2015 for 7.6% of the stocks portfolio. Mason Capital Management Llc is another bull as the investment professional who is having 660,868 shares of Molson Coors Brewing or 6.17% of their stocks portfolio. Furthermore, Pennant Capital Management Llc have 6.13% of their stocks portfolio invested in the company for 1.60M shares. The New York-based fund Fir Tree Inc. revealed it had acquired so far a stake worth about 5.37% of the investment professional’s stock portfolio in Molson Coors Brewing. The New York-based fund Highline Capital Management L.P. is also positive about the stock, possessing 1.14M shares or 4.1% of their stocks portfolio.
Molson Coors Brewing (NYSE:TAP) Profile
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
Molson Coors Brewing (NYSE:TAP) traded down -0.08% on 14 December, hitting $83.11. A total of 1.47 million shares of the company’s stock traded hands. This is down from average of 1.61 million shares. Molson Coors Brewing has a 52 week low of $80.92 and a 52 week high of $112.19. The company has a market cap of $17.90 billion and a P/E ratio of 8.29.
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