J.P. Morgan Lowers Rating on Shares of Molson Coors

J.P. Morgan Downgrades Molson Coors(TAP) from Overweight to Neutral After Revenues Fall Short. J.P. Morgan writes,"We are downgrading TAP from Overweight to Neutral. While the company may see some sequential volume improvement in the US in 2011, with the stock having rebounded close to $50, it seems like that is priced in. In Canada, TAP is cycling +2% shipments, its best performance in 3 years. We think the consumer environment for beer remains difficult and with TAP's apparent bias for using capital on intl expansion vs. buybacks, we don't see a catalyst for the shares anytime soon." Shares of Molson Coors (TAP) closed at 49.25 yesterday.