Judy Hong

Canopy Growth Corp. (TSX: WEED) (NASDAQ: CGC) announced that it is undertaking a series of initiatives, including layoffs, to reduce costs and drive efficiency in order to accelerate its path to profitability.  Aligned to Canopy Growth’s FY23 strategic review, the Company announced...

Canopy Growth Corp (NASDAQ: CGC) is trading higher Wednesday morning after the company announced its fiscal third-quarter financial results.  Canopy Growth reported quarterly revenue of CAD$155 million ($122.14 million), which was down from CAD$169.9 million year-over-year. The company...

The niche products big brewers are coming up with to offset lagging beer sales are doing well, but taking share away from the original product, Goldman Sachs said Thursday.  Goldman updated its beer industry volume forecast to reflect more declines and downgraded Boston Beer Company Inc...

In conjunction with a beverage industry update, Goldman Sachs recommended another pair trade in the space this week in addition to its downgrade of PepsiCo, Inc. (NASDAQ: PEP) and simultaneous upgrade of The Coca-Cola Co (NYSE: KO). The Analyst Judy Hong upgraded shares of Coca-Cola...

A pair trade can be an effective market-neutral trading strategy that helps to minimize losses irrespective of how the scenario pans out. Goldman Sachs offered a pair trade in the consumer staples space this week, a sector the firm said has underperformed year-to-date amid fundamental challenges...

Reviewing the third-quarter results of Philip Morris International Inc. (NYSE: PM), Goldman Sachs said the company is one of the most compelling innovation stories in staples. 3Q Results Analyst Judy Hong noted that the company reported third-quarter earnings per share of $1.25, ahead of her $1....

Goldman Sachs is downbeat on the third-quarter earnings of tobacco companies, with the firm stating the third quarter is unlikely to reverse recent underperformance in the sector. The firm is below-consensus on Philip Morris International Inc. (NYSE: PM) and Reynolds American, Inc. (NYSE: RAI)...

Goldman Sachs reinstated Molson Coors Brewing Co (NYSE: TAP) with a Buy rating following the completion of its full acquisition of the MillerCoors US JV and global rights to the Miller brand. The brokerage, which has a price target of $130 (21 percent upside) on the issue, said the deal is "...

Goldman Sachs’ Judy Hong believes that while the long-term story for Coca-Cola European Partners plc Ordinary Shares (NYSE: CCE) remains intact, there is limited near-term upside to the synergies from the CCE/CCEAG/CCIP merger, while FX continues to act as a headwind. Hong downgraded the...

Goldman Sachs expects Philip Morris International Inc. (NYSE: PM) earnings to grow in double digits next year and sees 20 percent potential upside in shares as it upgraded the stock to Buy from Neutral. The brokerage, which also added the stock to its Conviction Buy List, sees increased bottom-line...

Goldman Sachs downgraded Reynolds American, Inc. (NYSE: RAI) to Neutral on diminishing earnings momentum and full valuation. The brokerage sees continued dip in industry volumes and estimates the company to incur higher settlement costs next year, which is expected to hurt EPS by 5 percent. "We...

Coca-Cola Enterprises Inc (NYSE: CCE) shares are down 24.2 percent following the completion of a merger between three The Coca-Cola Co (NYSE: KO) bottlers. The newly-formed Coca-Cola European Partners is a combination of Coca-Cola Enterprises, Coca-Cola Iberian Partners and Coca Cola...

Goldman Sachs has started coverage of Coca-Cola European Partners (Coca-Cola Enterprises Inc (NYSE: CCE)) with a Buy rating and price target of $46 following the completion of a three-way merger between Coca-Cola Enterprises, Inc., Coca-Cola Iberian Partners S.A.U. and Coca-Cola...

Commenting on the strong fourth-quarter results of Constellation Brands, Inc. (NYSE: STZ), Goldman Sachs said "the best is yet to come." On Wednesday, Constellation Brands said it earned $1.19 per share in the fourth quarter on revenue of $1.543 billion. Looking forward to the full year fiscal 2017...