Societe Generale analyst Andrew Holland upgraded Constellation Brand (STZ) to Buy from Hold and raised his price target for the shares to $265 from $234. The stock in afternoon trading is up $1.59 to $227.94.

Constellation is growing faster than most of its more diversified peers due to its ability to gain share in the U.S. beer market, Holland tells investors in a research note. The trends the company is exploiting, like Hispanic population growth, look set to continue in the U.S., the analyst adds.

Further, he sees no indication that President Trump's "perceived policies" on Mexico will have an adverse impact on beer sales.