Barclays Maintains an 'Underweight' on Brown Forman (BF-B); F2Q12 Earnings Prep
BF-B Hot Sheet
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Barclays maintains an 'Underweight' on Brown Forman (NYSE: BF-B) price target of $65.00.
Barclays analyst says, "We expect Brown-Forman to deliver very good top-line momentum in F2Q12, with a particular benefit from the Jack Daniels Honey launch. Recent Nielsen data has supported the positive sales trend in the US, and we could well see an acceleration moving into the holiday selling season. All in, we are looking for total depletions to jump at least 5.5% in the quarter with a further benefit from positive pricing...As we have said in the past, increased support behind brands will likely cause some near term pressure on the income statement, but is a key differentiator that will produce long term value market share gains by spirits brands compared to beer and for leading spirit brands in their respective categories."
For an analyst ratings summary and ratings history on Brown Forman click here. For more ratings news on Brown Forman click here.
Shares of Brown Forman closed at $80.74 yesterday, with a 52 week range of $62.14-$81.50.
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Barclays analyst says, "We expect Brown-Forman to deliver very good top-line momentum in F2Q12, with a particular benefit from the Jack Daniels Honey launch. Recent Nielsen data has supported the positive sales trend in the US, and we could well see an acceleration moving into the holiday selling season. All in, we are looking for total depletions to jump at least 5.5% in the quarter with a further benefit from positive pricing...As we have said in the past, increased support behind brands will likely cause some near term pressure on the income statement, but is a key differentiator that will produce long term value market share gains by spirits brands compared to beer and for leading spirit brands in their respective categories."
For an analyst ratings summary and ratings history on Brown Forman click here. For more ratings news on Brown Forman click here.
Shares of Brown Forman closed at $80.74 yesterday, with a 52 week range of $62.14-$81.50.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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