Constellation Brands Stock Can Still Run Despite Downgrade

Kevin Curran - finance.yahoo.com Posted 5 years ago

is still a best in class sin stock for investors eyeing cannabis and beer. Shares of the Victorville, New York-based alcohol and cannabis company fell about 1% shortly after Friday's open as the stock ran into overbought territory on technical indicators and was hit with a downgrade from Deutsche Bank. "In short, the story (in our view) has been successfully 'refreshed' after months of confusion over wine dilution/Canopy impacts, and lingering concerns over potential beer fundamental erosion," Deutsche Bank analyst Steve Powers said.

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