Evercore ISI raised the firm’s price target on Brown-Forman (BF.B) (BF.A) to $50 from $45 and keeps an In Line rating on the shares. Fiscal Q2 came in above expectations, but results were aided by inventory build, with underlying U.S. category dynamics little changed compared to fiscal Q1, says the analyst, who adds that the stock’s valuation “appears reasonable.”
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