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UBS Lowers Target, Estimates for Molson Coors (TAP)

By Dividend.com,  June 20, 2012, 09:05:37 AM EDT

Beer brewer Molson Coors Brewing Company ( TAP ) on Wednesday caught some negative commentary from analysts at UBS.

The firm maintained its "Neutral" rating on TAP but cut its price target to $41. That new target suggests a 3.5% upside to the stock's Tuesday closing price of $39.63. UBS also lowered its earnings estimates for the company, citing waning share buybacks through 2013.

Molson Coors shares posted modest gains in premarket trading Wednesday.

The Bottom Line
Shares of Molson Coors ( TAP ) have a 3.23% dividend yield, based on last night's closing stock price of $39.63. The stock has technical support in the $35-$38 price area. If the shares can firm up, we see overhead resistance around the $42-$43 price levels.

Molson Coors Brewing Company ( TAP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: TAP



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