Big alcohol looks to enter cannabis beverage market, Reuters reports
Written by Emily J. Thompson, Senior Investment Analyst
Alcohol Companies Entering Cannabis Market: Major alcohol manufacturers are preparing to venture into the cannabis beverage market, focusing on THC-infused drinks that are currently restricted to licensed dispensaries in 24 U.S. states.
Opportunity in Hemp: These companies see potential in extracting small amounts of THC from federally legal hemp, with notable players including Constellation Brands, Molson Coors, AB InBev, Pernod Ricard, and Brown-Forman.
Analyst Views on TAP.A
Wall Street analysts forecast TAP.A stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TAP.A is 52.00 USD with a low forecast of 46.00 USD and a high forecast of 72.00 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.
15 Analyst Rating
5 Buy
9 Hold
1 Sell
Moderate Buy
Current: 50.950
Low
46.00
Averages
52.00
High
72.00
Current: 50.950
Low
46.00
Averages
52.00
High
72.00
About TAP.A
Molson Coors Beverage Company is a holding company. The Company operates in two segments: Americas and EMEA&APAC. The Americas segment consists of the production, importing, marketing, distribution and sales of its owned brands and partner brands and licensed brands in the United States, Canada and various countries in Latin America. It operates nine primary breweries, three craft breweries and two container operations. It also includes partnership arrangements for the distribution of beer in Ontario and the western provinces of Canada. The EMEA&APAC segment consists of the production, marketing and sales of its primary brands as well as other owned and licensed brands in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the United Kingdom, various other European countries and certain countries within the Middle East, Africa and Asia Pacific regions. It operates approximately 11 primary breweries, four craft breweries and one cidery.
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.
