Option Millionaires

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Argus upgraded Constellation Brands to Buy from Hold with a $306 price target. The stock is trading at 18.6-times the firm's revised FY25 earnings estimate, but a higher multiple is warranted given the company's prospects for strong sales and earnings and management's plans to increase beer output, the analyst tells investors in a research note. Argus is also raising its FY25 EPS view for Constellation Brands to $14.20 from $13.90 while setting its FY26 estimate at $15.30 with a positive view of prospects for dividend hikes and ongoing earnings growth, the firm added.