Bernstein lowered the firm’s price target on Brown-Forman to $73.20 from $76.40 and keeps an Outperform rating on the shares. The analyst says Q3 “has been brutal” for the Americas alcoholic beverage group, with stock de-ratings across the board. However, the firm says earnings stability and line-of-sight to positive catalysts provide opportunity for its Outperform-rated names.
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Read More on BF.B:
- Brown-Forman board approves $400M buyback
- Brown-Forman upgraded to Outperform from Market Perform at Bernstein
- Brown-Forman price target raised to $71 from $70 at Barclays
- Brown-Forman price target raised to $69 from $66 at Roth MKM
- Brown-Forman price target lowered to $67 from $68 at RBC Capital
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