- Molson Coors (TAP -0.3%) was stung by lower volume for MillerCoors brands (Blue Moon, Coors, Foster's, Keystone, Miller) during Q4. The weakness at MillerCoors is also a short-term concern for JV partner SABMiller (OTCPK:SBMRY).
- Analysis: Susquehanna notes SG&A spending looked high for Molson during the quarter and value brands didn't perform well. The investment firm has a Positive rating on the beer stock with a price target of $125, although it cites downside risk to $65 if the JV buyout fails. TAP trades right around $84 this afternoon.
- During the earnings conference call, Molson execs gave analysts the silent treatment on acquisition news.
- Previously: Molson Coors Brewing misses by $0.01, revenue in-line (Feb. 11)
Volume weakens for key MillerCoors brands
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