Constellation Brands Could Rise 30% More on Its Beer Portfolio's Strength, Analyst Says

Constellation Brands (NYSE: STZ) has nearly doubled in value over the past year as the prospects for bars and restaurants fully reopening improve and the potential for social gathering this year increases. But one Wall Street analyst believes the stock of the beer, wine, and spirits distributor isn't done rising just yet.

Jefferies analyst Kevin Grundy says Constellation's beer portfolio, which comprises the still fast-growing Corona and Modelo family of beers, remains one of the best in consumer staples.

Not only did Grundy keep his buy rating on the stock, but he also raised his price target from $276 per share to $300, a 9% increase -- and a 30% increase from where Constellation currently trades.

Source Fool.com