Evercore ISI analyst Robert Ottenstein has maintained their bullish stance on TAP stock, giving a Buy rating on January 30.
Robert Ottenstein has given his Buy rating due to a combination of factors influencing Molson Coors’s potential performance. One key reason is Molson Coors’s ability to maintain and grow its market share despite challenging consumer conditions and competitive pressures from rivals like ABI. The company’s performance in gaining industry share, particularly against ABI, highlights its strategic positioning in the market.
Additionally, while the macroeconomic environment remains tough, Ottenstein anticipates that Molson Coors will benefit from lapping strong share gains and easier comparisons in the coming quarters. Although there are risks such as potential tariffs and changes in consumer behavior due to health advisories, these factors are not expected to significantly hinder the company’s growth prospects. The strategic exit from the Pabst contract and improved weather conditions in Europe are seen as potential catalysts for enhanced performance.
According to TipRanks, Ottenstein is an analyst with an average return of -1.9% and a 45.26% success rate. Ottenstein covers the Consumer Defensive sector, focusing on stocks such as Anheuser-Busch Inbev Sa, Constellation Brands, and Molson Coors.
In another report released on January 30, Wells Fargo also maintained a Buy rating on the stock with a $74.00 price target.
