Molson and Coors merged in February 2005 and added StarBev in 2012, and it serves markets including the United States, Canada, Eastern Europe and the United Kingdom and Ireland, with exposure to other markets through its Molson Coors International division. It acquired the remainder (58%) of the U.S. joint venture (MillerCoors) in mid-October 2016.
The Coors light brand remains a huge favorite with Generation X and baby boomers, who were all around when the light beer revolution started. The company is now working on opportunities to market a cannabis-infused product.
Shareholders receive a 3.17% dividend. Molson Coors Brewing stock has a $66 price target at Jefferies. The consensus target is $56.59, and the stock closed on Friday at $55.66.
VICI Properties
This top pick across Wall Street is an ideal pick for investors who are more conservative and looking for gaming exposure. VICI Properties Inc. (NYSE: VICI) is a triple net lease real estate investment trust (REIT) that was spun out of Caesars Entertainment post-bankruptcy.
The company has 23 mixed-use gaming, lodging and entertainment properties in its portfolio, and a subsidiary that owns four championship golf courses. VICI also owns roughly 34 acres of undeveloped land in Las Vegas, which it leases to Caesars.
Much of the focus has been on VICI’s recent deal to acquire the real estate of the Venetian Resort in Las Vegas, with Apollo as a new tenant. Looking ahead, many on Wall Street are very positive on VICI’s embedded growth pipeline with Caesars Entertainment, including a put/call on the Centaur properties in Indiana (starting in January) and a right of first refusal on a strip asset sale for Caesars, which could occur soon after a full earnings before interest, taxes, depreciation, amortization and restructuring or rent costs recovery.
VICI Properties stock investors receive a 5.23% distribution. The Truist Financial price target of $40 is higher than the $37.88 consensus target. Shares closed at $29.85 on Friday.
Of course, nobody should invest in something they personally oppose. However, for investors not bothered by these industries, their stocks may have solid portfolio potential, and even if the economy gets very rocky, they are likely to hold their own. With the current market wobbling, it may make sense to shift some dollars to these solid companies.
Originally posted at 24/7 Wall St.
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