Constellation Brands (STZ) NewsBite - STZ Rises On Analyst's Comments

Constellation Brands (NYSE: STZ) opened at $22.11. So far today, the stock has hit a low of $22.11 and a high of $23.37. STZ is now trading at $23.04, up $0.68 (3.04%).

Over the last 52 weeks the stock has ranged from a low of $17.21 to a high of $26.46. Shares of STZ are rising this morning after an analyst at Morningstar analyst speculated that the company may make a bid for Ste. Michelle Wine Estates, if Altria Group, which recently acquired Ste. Michelle's parent company, puts it up for sale.

The analyst added that since STZ recently has moved to consolidate the industry, the move would make sense. Technical indicators for the stock are bullish and S&P gives STZ a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on STZ the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 20 range.