Molson Coors' Reaffirmed Outlook Seen as Ambitious
Dow Jones08-07
1250 ET - Molson Coors' full-year guidance could be ambitious, BNP Paribas Equity Research analyst Kevin Grundy says. The beer company reaffirmed its outlook, despite showing little sign of a fundamental inflection in its own sales, Grundy says. The analyst also notes that industry-wide challenges haven't improved during the latest quarter. Molson Coors did beat Street estimates, which Grundy says were low bars to begin with, which is keeping the stock afloat despite a decline in sales. Grundy is cautious about the outlook for the U.S. beer market, which Molson Coors is highly exposed to.
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