Alcohol stocks drop after US surgeon general calls for cancer warnings By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
Impact of Surgeon General's Advisory: Shares of European and American spirits makers and brewers fell significantly after U.S. Surgeon General Vivek Murthy recommended cancer warnings on alcoholic drink labels, citing increased cancer risks associated with alcohol consumption.
Market Reactions: Major companies like Brown-Forman, Molson Coors, Constellation Brands, and Diageo experienced notable declines in their stock prices, reflecting investor concerns over the potential implications of the advisory on the alcohol industry.
Analyst Views on ABI
Wall Street analysts forecast ABI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABI is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 24.955
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Current: 24.955
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
