Bull Calls for Beer All Around

Dear Client:In anticipation of Constellation's earnings call next week, Nik Modi of RBC sent a note detailing their expectations for the quarter. Nik and company think "the people found their beach" and predict Constellation to have good news. The bank believes Constellation will "comfortably hit" their 11% beer volume estimate. That's partly because the distributors they poll in their beer field work are even more optimistic, expecting Constellation to grow volumes by 12.7%. RBC expects as much as 100-200bps of