Goldman Sachs crunches the tax numbers on staples stocks

• Goldman Sach breaks down the impact of a "destination-based" tax on consumer staples companies.
• The GS team forecasts a 9% EPS benefit from Trump/GOP tax policies (25% corporate rate, repeal of interest expense deduction, repatriation tax at 8.75% with proceeds going to buybacks) and a 6% EPS gain if the destination-based tax proposal is part of the final plan.
• Constellation Brands (NYSE:STZ), Hershey (NYSE:HSY) and Mondelez International (NASDAQ:MDLZ) are seen as three companies within the staples sector that would be impacted the most on the negative side from the destination tax.
• On a broad look at tax implications, GS sees benefits for Dean Foods (NYSE:DF), Monster Beverage (NASDAQ:MNST), Reynolds American (NYSE:RAI) and Energizer Holdings (NYSE:ENR).
• Source: Bloomberg
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