Wall Street Remains Cautious on Molson Coors Beverage Company (TAP)

Core Viewpoint - Molson Coors Beverage Company (NYSE:TAP) is experiencing cautious sentiment from Wall Street, with a lowered price target and concerns regarding the impact of GLP-1 drugs on alcohol consumption [1][2][4]. Group 1: Price Target and Analyst Sentiment - Piper Sandler has reduced its price target for Molson Coors from $52 to $50 while maintaining a Neutral rating [1]. - The consensus among 21 Wall Street analysts suggests a cautious outlook with an average one-year share price target of $50.81, indicating a potential upside of 13% [5]. Group 2: Impact of GLP-1 Drugs - Recent agreements announced by President Trump with Eli Lilly and Novo Nordisk aim to reduce prices of GLP-1 drugs, which are expected to increase their usage among the American population [3][4]. - The former CEO of Molson Coors, Gavin Hattersley, indicated that GLP-1 drugs are believed to negatively affect alcohol consumption [4]. Group 3: Company Overview - Molson Coors Beverage Company manufactures, promotes, and sells beer and malt beverages across various regions, including the Americas, Asia-Pacific, Europe, and the Middle East [5].