The Trend Isn't Your Friend; Sell Molson Coors

Looking forward Molson needs to focus on running its operations more efficiently and generate sufficient cash to pay down its debt load and do so while avoiding declines in volume and sales, the analysts continued. Naturally, this will be difficult to accomplish as the beer market becomes even more fragmented over time which could result in a decision to "change the playbook," including aggressive pricing increases.

"We remain unconvinced, and even see more downside than upside risks to earnings forecasts in the medium term," the analysts added.