Credit Suisse Bullish To Neutral On Beverage/Spirit Names

Credit Suisse has initiated seven companies in the beverage and spirit sectors, rating the sector Neutral to Bullish. The brokerage commenced with an Outperform rating on four stocks while it settled with a Neutral rating on the other three.

The comments indicate continued weakness in carbonated beverages while companies focused more on non-carbonated beverages seem likely to gain. The third quarter is just about 14 days away from ending, and the comments assume significance on the expectations for the third quarter.

Related Link: Credit Suisse Calls Monster Beverage An "Unleashed Beast With Plenty Of Room To Run"

Credit Suisse has given its price target rating for the following stocks:

Initiated At Outperform

• Brown-Forman Corporation (NYSE: BF-B), $52 price target.
• Dr Pepper Snapple Group Inc. (NYSE: DPS), $108 price objective.
• Monster Beverage Corporation (NASDAQ: MNST), $187 price target.
• PepsiCo, Inc. (NYSE: PEP), $121 price objective.

Initiated At Neutral

• The Coca-Cola Co (NYSE: KO), $44 price target.
• Constellation Brands, Inc. (NYSE: STZ), $178 price target.
• National Beverage Corp. (NASDAQ: FIZZ), $55 price objective.

At Time Of Writing ...

• Brown-Forman was up 0.33 percent at $45.77.
• Coca-Cola was down 0.61 percent at $42.10.
• Constellation was down 0.94 percent at $164.65.
• Dr Pepper Snapple was up 0.33 percent at $90.52.
• Monster was down 0.13 percent at $146.16.
• National Beverage Corp was down 0.25 percent on the day at $52.64.
• PepsiCo was down 0.25 percent at $105.22.

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