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The Boston Globe

Business

MARKET MOVERS

Wine company hits a 4-year-plus high

Martin Bernetti/AFP/Getty Images

Constellation’s solid market position, with brands like Robert Mondavi wine, Corona beer (in a joint venture with Grupo Modelo), and Svedka vodka, spells long-term growth, analysts say.

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It was a day for investors to offer a toast: Constellation Brands Inc.’s stock rose 2.3 percent to reach its highest price since December 2007. The Victor, N.Y., company, which is the world’s largest wine company, was raised to “buy’’ from “neutral’’ by Goldman Sachs Group. And on Monday, Auriga USA said the company will post higher profits on Thursday; Auriga expects profit margins to continue to improve.

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