E-Malt.com News article: Mexico: Morgan Stanley lowers 2010 and 2011 EPS estimates for Grupo Modelo

Morgan Stanley lowered its 2010 and 2011 EPS estimates for Grupo Modelo and maintained its equal-weight rating on the stock, SmarTrend communicated on November, 15.

The bank now sees 2010 EPS of M$3.06, down from M$3.19 per share, and 2011 EPS of M$3.42, down from M$3.53 per share.

Morgan Stanley has a potential upside of 22.7% based on a current price of $25.57 and an average consensus analyst price target of $31.38.

Morgan Stanley should find initial resistance at its 50-day moving average (MA) of $25.63 and further resistance at its 200-day MA of $26.95.

In the last five trading sessions, the 50-day MA has climbed 0.53% while the 200-day MA has remained constant.


17 November, 2010