Citigroup Raises Constellation Brands Estimates; PT Goes To $25

Citigroup recently hosted Constellation Brands STZ at Citi's Small Mid Cap Conference and had the opportunity to spend time with Treasurer David Klein. “Our meetings reinforced our confidence in the turnaround at the company, in particular the top line growth recovery that we expect to see,” Citigroup writes. “As such, we are raising our already above-consensus EPS estimates as follows: FY11 to $1.78 (vs. the Street's $1.73) and FY12 to $2.03 (vs. the Street's $1.91).” Citigroup has also raised its PT to $25. Constellation Brands currently trades at $20.66.