Piper Sandler Lowers PT on Molson Coors Beverage Company (TAP) to $53, Keeps a Neutral Rating
Molson Coors Beverage Company (NYSE:TAP) is one of the . On June 23, Piper Sandler lowered the firm's price target on Molson Coors Beverage Company (NYSE:TAP) to $53 from $58, keeping a Neutral rating on the shares.
The analyst told investors in a research note that Molson Coors Beverage Company (NYSE:TAP) is exhibiting a continually slowing retail momentum. Q2-to-date US retail volumes dropped around 5%, with the company lapping elevated shipments from a year ago.
A wide-angled shot of a brewery showing the large machinery used for producing malt beverages.
In addition, aluminum prices are resulting in cost pressure behind increased Midwest Premium rates. The firm also noted that these circumstances are materializing at a time when the US beer category is experiencing pressure from societal shifts and macroeconomic factors.
Molson Coors Beverage Company (NYSE:TAP) produces and sells beer. The company operates through the Americas, EMEA, and APAC geographical segments.
While we acknowledge the potential of TAP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
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