Molson Coors price target lowered to $62 from $72 at BofA

BofA lowered the firm’s price target on Molson Coors to $62 from $72 and keeps a Neutral rating on the shares. The firm is slightly lowering its FY24 EPS forecast to $5.67 from $5.71, which is predominantly driven by lower sales, and believes a lower multiple and larger discount versus its historical average is warranted given weak industry performance and market share losses.