Big gains seen for Molson Coors

|About: Molson Coors Brewing Company (TAP)|By:, SA News Editor

Molson Coors (NYSE:TAP) falls on a short list from Kovitz Investment Group of "high-conviction" picks of companies that appear to be trading at big discounts to fair value estimates.

Kovitz has a target of $84 on Molson Coors to rep ~40% upside potential.

"Basically, this is also a margin-improvement story. Everybody is concerned that beer is a declining category,” Burnstine said. But he believes the industry’s problems are “more cyclical ... interest [in beer] ebbs and flows over time," Kovitz' Bob Burnstine notes to MarketWatch.

The firm expects cost-cutting to feed TAP's bottom line even with the top line growing slowly.

TAP +1.04% premarket to $61.00.

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