Brown-Forman price target lowered to $45 from $50 at Evercore ISI

Evercore ISI analyst Robert Ottenstein lowered the firm’s price target on Brown-Forman (BF.A) (BF.B) to $45 from $50 and keeps an In Line rating on the shares ahead of the company’s fiscal Q2 report due on Thursday, December 5. The firm, which is expected a “weak” Q2, remains concerned given weak industry data and given the potential for retaliatory tariffs from the EU and U.K. on American Whiskey as well as the potential for tariffs on Tequila imported to the U.S. from Mexico, the analyst tells investors in a preview.