Citi Reiterates Buy On Constellation Brands (STZ)

Citi Investment Research is reiterating its Buy rating and $21 price target on Constellation Brands, Inc. STZ. In the research report, Citi Investment Research writes, "STZ Finally Posts Market Share Gains in U.S. Wine - Since April 2009, STZ’s U.S. wine market shares in tracked-channels had posted consistent declines, which share losses had been exacerbated by disruptions associated with STZ’s distribution consolidation. However, over the last few months, we have seen a steady abatement in these market share declines, and most recently in the four- weeks ended August 7, 2010, STZ finally posted a market share gain of 0.2 pts, to 15.6%. We reiterate our Buy (1H) rating and $21 target price on the stock." Shares of Constellation Brands, Inc. closed at $16.66 on Friday.