With St. Patrick’s Day right around the corner, could alcoholic beverage stocks see a pop due to the Luck of the Irish? ☘️ 🍻 Runnymede's Andy Wang Wedbush’s Gerald Pascarelli discuss the outlook for the beverage space with Nicole Petallides:
Andy's notes:
St. Patrick's Day
- More than half of Americans plan to celebrate St. Patrick’s Day
- Most popular day for beer drinking
- Average number of drunks consumed per person: 4.2
- 13M+ pints of Guinness will be consumed worldwide
Constellation Brands (STZ)
- The growth story in beer
- Consensus EPS forecast for the fiscal quarter ending Feb 2024 is $2.13
- Trading at 22x 2024 EPS of $11.90
- Beer portfolio viewed as “golden child” of the industry
With St. Patrick’s Day right around the corner, could alcoholic beverage stocks see a pop due to the Luck of the Irish? ☘️
— Schwab Network (@SchwabNetwork) March 11, 2024
🍻 @RunnymedeCap & @Wedbush’s Gerald Pascarelli discuss the outlook for $STZ, $SAM, $BUD, $NAPA and the rest of the beverage space with @NPetallides:
