NEW YORK (TheStreet) -- Constellation Brands shares are up 4.8% to $108 in early market trading on Thursday following the release of the wine, beer and spirits manufacturer's third quarter earnings results before the opening bell today. The company reported earnings of $1.23 per diluted share on an adjusted basis for the quarter, beating analysts' expectations by 9 cents per share. Revenue for the period rose 6.9% over the previous year's quarter to $1.54 billion, ahead of analysts' $1.51 billion consensus estimates. Exclusive Report: Jim Cramer's Best Stocks for 2015 STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The company also raised is full year fiscal 2015 earnings guidance to between $4.25 and $4.35 per diluted share from its previous $4.10 to $4.25 view, coming out ahead of analysts' consensus $4.24 expectations. The Victor, NY-based company's stock reached a lifetime high on Tuesday after analysts at Goldman Sachs upgraded the stock to "buy" from "neutral" while also raising it's price target to $117 from $97. "STZ provides the best vehicle in our beverage coverage universe to pursue themes of accelerating US growth vs. EMs, falling oil prices, exposure to an attractive core Hispanic demographic, and potential for an evolving capital allocation narrative. We raise our EPS estimates by 4%-6% to $4.30/$4.86/$5.85 for Feb FY15-17 to reflect higher beer sales growth. Our EPS estimates are now +1%/+3%/+10% above consensus, respectively," said analysts at the firm. TheStreet Ratings team rates CONSTELLATION BRANDS as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation: "We rate CONSTELLATION BRANDS (STZ) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income." Highlights from the analysis by TheStreet Ratings Team goes as follows: You can view the full analysis from the report here: STZ Ratings Report STZ data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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