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Why Molson Coors Plunged Today

TheMotleyFool

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Shares of beer giant Molson Coors (NYSE: TAP) declined 4.8% on Tuesday.

While Molson Coors had already fallen following disappointing revenue numbers in its fourth-quarter earnings release last week, a prominent Wall Street analyst lowered his rating on the stock to the ignominious "Underperform" rating today, kicking the stock while it's down.

Today, Bank of America analyst Peter Galbo downgraded Molson Coors from a "Neutral" rating to an "Underperform," while lowering his price target from $50 to $42. Molson Coors had ended yesterday's trading at $49.89.

Source Fool.com

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