衰落的沃伦·巴菲特：花旗下调星座品牌评级

Constellation Brands (NYSE:STZ) continues to be looked at cautiously by analysts, amid concerns about the impact of tariffs on earnings and broad industry trends. 

On Thursday, Citi downgraded Citi to a Buy from Neutral as it pointed to the persistent slowdown in beer sales. The beer sales slowdown was attributed to weakness in the Hispanic consumer base, poor weather, and a soft U.S. beer category, which could make it harder for the beverage giant to gain shelf space as brand velocities slow.

The company's beer business was noted to have grown at an average of about 12% since 2014, driven by strong distribution gains, innovation, and growth among Hispanic consumers. However, recent depletions have slowed to around 3% in the last two quarters, with a forecasted decline of 2% in the fourth quarter of 2025, warned analyst Filippo Falorni.

Looking ahead, Citi believes the sales weakness could lead to lower medium-term growth targets, potentially reducing capacity utilization and negatively impacting beer margins. The company's valuation is currently around 13X EPS, which is below historical averages, but Citi sees little chance of a re-rating due to looming tariff risks that could significantly impact earnings. As a result, Citi has lowered its target price for STZ to $200 from $260 to $200. 

On a longer timeline, Warren Buffett is a strong believer in Constellation Brands (NYSE:STZ). Berkshire Hathaway (BRK.A) (BRK.B) acquired a $1.24 billion stake in the company earlier in the month. The investment consisted of 5.6 million shares of Constellation Brands, making Berkshire Hathaway the sixth-largest shareholder in the beverage conglomerate.

Constellation Brands' (NYSE:STZ) portfolio aligns well with Buffett's investment philosophy, which often focuses on companies with strong brands, consistent earnings growth, and durable competitive advantages. The company's beer segment, in particular, has shown strong performance over the last few years.

Shares of Constellation Brands (STZ) traded flat on Thursday. For the year, the stock is down by more than 17%. The Seeking Alpha Quant Rating on STZ is flashing Sell, while Seeking Alpha analysts and Wall Street analysts still have a consensus Buy rating on the stock.