11:30 AM EDT, 08/05/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target by $7 to $48, based on a 2026 P/E of 8.3x, a justified discount to TAP's 5-year average forward P/E of 11.7x. We lower our adjusted EPS estimates to $5.45 from $6.00 for 2025 and to $5.80 from $6.30 for 2026. Following a Q2 earnings beat but a material reduction in 2025 earnings guidance, we are lowering our estimates and price target and maintaining a Hold opinion on TAP. We were surprised by the magnitude of the guidance cut, particularly after its comfortable Q2 beat, as a plethora of headwinds are expected to significantly impact TAP's financial performance in the second half of 2025. While we find the stock's dividend yield compelling, a lack of catalysts and a challenging environment for alcohol beverage companies keep us on the sidelines, particularly due to declines in consumption from an increasingly health-conscious population. We note the 2.7% drop in U.S. beer industry volumes in 2024, which was driven by domestic brands (and light beer in particular).