Post-2Q review, I am still upbeat on Constellation Brands (STZ), particularly its beer business, which remains a secular winner in the US. With a cleaner wine business and a clear path to resuming share repurchases, the 2H setup looks favorable, in my view. At current valuations of ~16x EV/EBITDA, and free cannabis optionality via the Canopy (OTC:CGC) stake, the value proposition looks quite compelling vis a vis similar high-growth peers such as Monster (MNST) and Brown-Forman (BF.B).

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Strong Profitability in 2Q21 Despite the Backdrop

STZ’s 2Q21 sales of $2.3bn came in ahead of the Street, with gross margins of 52.5% also ~90bps above expectations. SG&A leverage and delayed marketing spend drove operating margin upside and a strong operating income beat vs. the Street. No surprises then that STZ’s $2.91 in EPS (ex-Canopy) was also well above consensus’ $2.69, though this includes the additional benefit to EPS from

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DOVER, Del., Sept. 27, 2020 /PRNewswire/ —¬†Online therapy platform, Talkcircle has today announced free online support for COVID-affected MENA residents, for one week along with additional ongoing discounts for Lebanon residents, affected by the recent explosion. Talkcircle provides coping mechanisms for people in need, through licenced and certified psychologists.

“We provide counselling services that help people manage through difficult times and to start feeling better now,” said Mat Schramm, CEO of Talkcircle. “By offering mental health services online, it¬†reduces the stigma of therapy through private 1:1 counselling,” continued Schramm.

“We have several Arabic therapists on the team; it’s essential to have a support system for the local community and to help a wider array of cultures,” he concluded.

Talkcircle also supports individuals with prevalent mental health issues including depression, anxiety and couples counselling. The platform also offers corporate services, to help companies support employees through jobs losses

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