Jim Cramer will ‘stay on the sidelines' for now when it comes to alcohol stocks

While CNBC's Jim Cramer said he's willing to consider that investors may have been too pessimistic about alcohol stocks, he's not ready to lend his full support to many of these companies.

"I'm too concerned about the long-term challenges to pound the table on any of these names, especially Brown-Forman or Diageo," he said."But I'm also open to the idea that we've simply gotten too negative on the group."on Friday revisited alcohol stocks, a sector he's been largely negative on throughout the year.

According to Cramer, alcohol companies face a number secular challenges, such as changing trends in consumer behavior. Popular weight loss medications couldrecently posted a better-than-expected report after missing estimates over several consecutive quarters, with pockets of strength in some of its bourbon and rum brands.

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