Morgan Stanley Retains Equal-Weight Rating On Molson Coors Brewing

According to Morgan Stanley, Molson Coors Brewing (NYSE: TAP) remains Equal Weight.

Morgan Stanley said that it remains Equal-weight on TAP following weaker than expected Q2 results, as well as weak July STR trends, including a MSD (%) decline in Canada, a LSD (%) US decline, and a LSD (%) UK increase. “We remain EW given we believe fundamental pressures are reflected in valuation of 12.0 times CY12 EPS and share repurchases will likely help provide a floor for the stock. We are lowering our 2011/2012 EPS estimates by 2% and 4%, respectively, after the Q2 miss.”

Molson Coors Brewing closed yesterday at $44.33.