Shares of Constellation Brands will get a boost as demand for beer remains strong, according to BMO. Analyst Andrew Strelzik initiated coverage of Constellation Brands with an outperform rating, saying that the parent company behind imported Mexican beer brands Modelo and Corona in the U.S. will continue to see strong demand for its products. “We have seen no signs of slowing consumer spending on STZ’s key beer brands and expect continued resiliency,” Strelzik wrote. “Despite evidence of changing consumer behavior in other food/beverage categories, measured channel data for STZ’s beer brands and Mexico beer import data remains consistent with — if not ahead of — prior months. We expect continued resiliency.” The analyst expects Constellation Brands has “ample room” to expand distribution outside of its core region, and sustain strong sales of beer in the coming years. This supports…
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