Constellation Brands (NYSE: STZ) has been transforming itself into a premium alcohol distributor that gained ground in its primary beer business, as well as in wine and spirits.
The global pandemic set back its plans as restaurants and bars were closed as being non-essential businesses, with only the former able to continue operating so long as it was for takeout or delivery.
Yet analysts believe the beer market is a better bet during the crisis, because spirits are seen as being consumed more in an out-of-home setting, particularly in travel-oriented markets. And despite Constellation Brands generating more revenue from that segment of its business, its stock has not yet been able to fully regain all the ground it lost during the COVID-19 outbreak.
Source Fool.com