Constellation Brands down after Citi downgrades to 'neutral' on beer demand slowdown

Shares of Corona beer maker Constellation Brands STZ.N down 1.4% at $176.58 premarket

Brokerage Citi downgrades stock to "neutral" from "buy", cuts PT to $200 from $260

Believes recent beer revenue slowdown could linger with Hispanic consumer weakness, soft U.S. beer category, and looming tariff risk,

Says this makes it harder for STZ to gain incremental shelf space as its brands' velocities are slowing, further leading to lower capacity utilization by co, thereby negatively impacting beer margins

Adds that while the lower medium-term outlook could represent a more achievable bar, market will remain skeptical given weakness in recent trends

Average rating of 26 analysts on stock is "buy", with a median PT of $230- data compiled by LSEG

STZ had fallen 19% YTD, as of last close