Constellation Brands Inc. stock soared 7% Thursday, after the distributor of wine, spirits and Corona beer beat earnings estimates for the fourth quarter and offered upbeat guidance for fiscal 2018. Wells Fargo analyst Bonnie Herzog cited that outlook, along with margin expansion and strong volume growth in beer, as key positives in the report in a quick take note on the numbers. Herzog rates the stock outperform. Constellation Brands beat EPS estimates by 12 cents, while sales came in 2.4% above consensus, based on FactSet data. Beer shipment volumes rose 8.7% and pricing rose 4.6% to push beer sales growth to 10%, said Herzog. “We continue to think STZ has significant momentum and are encouraged by this quarter’s strong underlying results and FY18 outlook,” she wrote. Constellation Brands remains her top beverage stock pick, she said. Shares have gained about 13% in 2017, while the S&P 500 has gained 5%.
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