The fair value estimate for Molson Coors Beverage was revised from US$45.24 to US$43.81, reflecting analysts lowering price targets amid softer earnings previews. JPMorgan, Citi and UBS maintain Neutral ratings, while Barclays and BofA cut their targets to US$36 and keep Underweight and Underperform ratings. TD Cowen reduced its target to US$37 and keeps a Hold rating, pointing to weak alcohol volumes through the summer as a risk. The model's assumptions also changed: revenue growth moved from about 26.8% to 30.4%, net profit margin from about 8.47% to 8.56%, and future P/E from about 9.23x to 8.84x, while the discount rate stayed near 7.24%.
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