Molson Coors Brewing Company (TAP) stock is expected to deviate a maximum of $18.33 from the average target price of $116 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $136 and the most muted being $100.
Molson Coors Brewing Company (TAP) stated loss of 461,815 shares or 10.7% in the short interest. The short interest registered from 4,323,102 on June 15,2016 to 3,861,287 on June 30,2016. In terms of floated shares, the shorted positions stood at 2.3%. The stock has been averaging 1,809,940 shares daily in trading and would need 2 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Bryan Garnier upgrades its rating on Molson Coors Brewing Company (NYSE:TAP). Analysts at the Bryan Garnier have a current rating of Buy on the shares. The rating by the firm was issued on July 8, 2016.
Molson Coors Brewing Company (NYSE:TAP): On Thursdays trading session , Opening price of the stock was $101.34 with an intraday high of $101.72. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $98.6. However, the stock managed to close at $98.76, a loss of 2.41% for the day. On the previous day, the stock had closed at $101.2. The total traded volume of the day was 2,854,091 shares.
Molson Coors Brewing Company (MCBC) is a holding Company that operates as a brewer. The Company has a portfolio of owned and partner brands, including Carling, Coors Light, Molson Canadian and Staropramen brands, as well as craft and beers, such as Blue Moon, Creemore Springs, Cobra and Sharps Doom Bar. The Company operates in four segments: Molson Coors Canada (MCC or Canada segment), operating in Canada; MillerCoors LLC (MillerCoors or U.S. segment), operating in the United States (U.S.); Molson Coors Europe (Europe segment), operating in Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, Slovakia and the United Kingdom (U.K.), and Molson Coors International (MCI), operating in various other countries.