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Bernstein is bullish on beer, says top stocks like Constellation Brands can rise nearly 30%

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A case of Constellation Brands Inc. Corona beer sits on a shelf in a cooler during a delivery in Ottawa, Illinois, U.S., on Tuesday, April 2, 2019.
Daniel Acker| Bloomberg | Getty Images

The stock market is underestimating the growth prospects of top beer stocks that are aggressively pushing into new markets with more modern brands, according to investment firm Bernstein.

Analyst Trevor Stirling initiated coverage on Monday night of Constellation Brands, Molson Coors and Boston Beer, giving an outperform rating to all three stocks. Stirling said in a note to clients that the companies are evolving from their legacy products to take advantage of new trends.

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