Constellation Brands: Navigating Near-Term Headwinds Amid Attractive Valuation and Likely Recovery in Fiscal 2024

Constellation Brands is facing near-term headwinds due to softer consumer sentiments, particularly among its core Hispanic customer base. However, trends are not worsening, and distributor inventory is healthy. Despite the challenges, the company's valuation is attractive, with potential for recovery in the next fiscal year.