Analysts say Corona brewer is a buy despite slowdown in sales across the industry

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Two Wall Street research firms shoot down worries about a key beer sales metric for Constellation Brands.

Two Wall Street research firms are calling Constellation Brands a buy, arguing that worries over a key sales metric for the beer maker are overblown. Analysts at Jefferies last week said industrywide depletions — a measure of how much beer is sold to retailers by distributors — "remain weak" and see a likely April slowdown due to bad weather. However, distributors polled by Jefferies are bullish on Constellation, seeing buyers trade-up for its Modelo brand.

Cans of Corona and Modelo beer are displayed on a shelf at a BevMo store on January 05, 2024 in San Rafael, California.

 

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