Wine seller Constellation Brands (STZ +2.8%) is upgraded to Buy from Neutral by Goldman Sachs...


Wine seller Constellation Brands (STZ +2.8%) is upgraded to Buy from Neutral by Goldman Sachs with a revised $29 price target, up from $22. The firm cites improving wine fundamentals, compelling capital allocation potential with an expected $300M-plus of share buybacks per year in FY13 and beyond, and a sum-of-the-parts valuation of $29.

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