Constellation Brands (STZ) Shares Surge On Earnings Beat

Constellation Brands (STZ) reports earnings and beats on both sales and EPS. Constellation Brands is our top pick in the U.S. alcohol space, says Nadine Sarwat, Director and Analyst, Berstein. Berstein has an outperform rating and a $275 price target on Constellation. Nadine says their Mexican beer names such as Modelo and Corona are strong. She says they think it's trading at a discount to where it should be today. Brett Sifling of Gerber Kawasaki Wealth & Investment Management discusses the Sands family giving up shares and he discusses a potential buyback. Nadine says Constellation should focus on their beer business. Brett discusses the cannabis space for expansion. Nadine points out that rising input costs are still affecting Constellation.