Barron's Drinks to Constellation

One of the few good-news stories of last week came from wine-maker Constellation Brands (STZ) - which reported a 50% jump in FQ1 net income, and gross margins that rose more than 5% to 35%. Its shares still trade at a substantial bargain to its peers, Barron's The Trader notes: 

At about $21, Constellation shares trade at 12.2 times projected 2009 profits -- compared with about 18.8 times for Brown Forman (BF.B), 13.4 times for Diageo (DIA) and the 15.5 times average for distillers and vintners.