Citi lowered the firm’s price target on Brown-Forman (BF.B) to $39 from $46 and keeps a Neutral rating on the shares as part of a Q4 earnings preview for the beverages, household and personal care sector. Currency headwinds on the dollar strength are likely to bring down 2025 earnings growth outlooks to low- to mid-single-digits for most names with international exposure, the analyst tells investors in a research note. Citi also expects a focus on potential implications from the incoming Trump administration on tariffs, immigration, product reformulations, and corporate taxes. Names the firm is positive on into the print include Coca-Cola (KO), Clorox (CLX), and Boston Beer (SAM), while it is cautious on Kenvue (KVUE), Monster Beverage (MNST), and Colgate-Palmolive (CL).
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