Daily marijuana use surpasses alcohol consumption, new study finds. Here's what it means for the industry
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 23 2024
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Source: CNBC
- Daily Marijuana Use Surpasses Drinking: Data analysis shows that daily or near-daily marijuana use has become more common than similar levels of drinking in the U.S.
- Increase in Cannabis Users: The number of daily cannabis users has increased significantly, with 17.7 million users compared to 14.7 million daily drinkers in 2022.
- Shift in Consumer Trends: Younger generations are increasingly accepting cannabis for daily and monthly use at higher rates than other age groups.
- Impact on Alcohol Industry: Analysts predict potential negative impacts on the alcohol industry due to the rise in cannabis adoption, affecting beer volume and consumption patterns.
- Future Industry Expectations: The cannabis industry anticipates federal restrictions to ease, providing opportunities for growth, funding, and investments, while the alcohol industry may need to adapt to changing consumer preferences.
Analyst Views on STZ
Wall Street analysts forecast STZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for STZ is 163.00 USD with a low forecast of 135.00 USD and a high forecast of 209.00 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
7 Buy
7 Hold
1 Sell
Moderate Buy
Current: 160.720
Low
135.00
Averages
163.00
High
209.00
Current: 160.720
Low
135.00
Averages
163.00
High
209.00
About STZ
Constellation Brands, Inc. is a producer and marketer of beer, wine, and spirits with operations in the United States, Mexico, New Zealand, and Italy with brands, such as Corona Extra, Modelo Especial, Robert Mondavi Winery, Kim Crawford, The Prisoner Wine Company, High West, Casa Noble, and Mi CAMPO. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. In the Beer segment, its portfolio consists of high-end imported beer brands and ABAs. It has a perpetual brand license to produce its Mexican beer portfolio and to import, market, and sell such a portfolio in the United States. In the Wine and Spirits segment, it sells a portfolio that includes higher-end wine brands complemented by certain higher-end spirits brands. Its Corporate Operations and Other segment consists of costs of corporate development, corporate finance, corporate strategy, executive management, growth, human resources, internal audit, investor relations, IT, legal and public relations.
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.








