The Globe and Mail reports in its Thursday, April 25, edition that Citi analyst Filippo Falorni has lowered his recommendation for Molson Coors Beverage to "sell" from "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Falorni gave his share target a $10 trim to $56 (all figures U.S.). Analysts on average target the shares at $69.11. Mr. Falorni says in a note: "Starting in mid-April 2023, Molson Coors Beverage greatly benefitted from the controversy on the Bud Light brand following a social media post by transgender influencer Dylan Mulvaney, which led to a large-scale boycott of the brand and benefitted Molson Coors Beverage's Coors Light & Miller Lite brands. Molson Coors U.S. beer sales accelerated to 13 per cent in the eight months post the controversy vs. 4 per cent in the prior year, with Molson Coors gaining 200 basis points of share in U.S. beer. However, early April scanner data trends show the trajectory for Molson Coors beer sales/volumes turning negative year-over-year as it cycles these benefits. While we expect a very gradual recovery of the share lost by Bud Light, we believe the difficult comps will continue to drive decelerating Molson trends into the summer."