In a market full of talk about artificial intelligence and technology, it’s not surprising that stocks like Constellation Brands Inc. (NYSE: STZ) can fly under the radar, which is exactly what’s been happening in recent months. Despite owning some of the most dominant beer brands in the U.S., the company has seen its shares struggle to generate any meaningful momentum, as concerns around slowing demand and consumer weakness have taken hold.
The stock is currently trading around $150 and, while the bears have repeatedly tried to push it lower, it has managed to hold above last year’s low. In fact, a series of higher lows has formed over recent months, suggesting that selling pressure may be fading and that a potential base is forming. That’s worth noting, because in addition to the emerging technical setup, there are some growing arguments that Constellation’s valuation alone makes it a buy—let’s take a closer look.
