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Downgrade Alert for Constellation Brands (STZ)

By Nick Russo

Constellation Brands (NYSE:STZ) was downgraded from Buy to Underperform at BofA/Merrill today. The stock closed yesterday at $153.91 on volume of 7.6 million shares, above average daily volume of 1.4 million.

In the past 52 weeks, shares of Constellation Brands have traded between a low of $114.49 and a high of $173.55 and closed yesterday at $153.91, which is 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.6%.

Constellation Brands (NYSE:STZ) is currently priced 5.5% above its average consensus analyst price target of $145.47. The stock should find initial support at its 50-day moving average (MA) of $150.83 and further support at its 200-day MA of $138.99.

Constellation Brands, Inc. produces and markets beverage alcohol in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories. Constellation conducts its business through wholly owned subsidiaries as well as through a variety of joint ventures with various other entities.

SmarTrend is monitoring the recent change of momentum in Constellation Brands. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Constellation Brands in search of a potential trend change.

Keywords: analyst upgrades/downgrades Constellation Brands

Ticker(s): STZ