On Friday, RBC Capital Markets made a slight adjustment to their outlook on Constellation Brands (NYSE: STZ ), as analyst Nik Modi reduced the price target to $289 from $293 while maintaining an Outperform rating on the company's shares. According to InvestingPro data, analysts' targets for the stock currently range from $190 to $300, with the company trading at a P/E ratio of 47.4x. Modi expressed a long-standing bullish stance on Constellation Brands, noting the challenges faced by the company despite its achievements. He pointed out that over the past five years, the stock has been relatively stagnant, even though the company has been investor-friendly with its capital allocation and has achieved a 7-9% top-line growth in its beer segment, along with industry-leading margins. Additionally, the board has made significant improvements to the shareholder structure.