Credit Suisse Starts Brown Forman (BF-B) at Outperform
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Credit Suisse initiates coverage on Brown Forman (NYSE: BF-B) with a Outperform rating and a price target of $52.00.
Analyst Laurent Grandet commented, "We are initiating coverage of Brown-Forman with an Outperform rating and a $52 target price. Our estimates are generally in-line with the consensus for FY17/18. We believe the company's recent reshuffle of its portfolio lineup, including the divestiture of Southern Comfort and the investments in Scotch and Irish whisky, will lead to higher returns and long-term sustainable growth. We think the recent share price decline following Q1 earnings provides an attractive entry point for investors."
Shares of Brown Forman closed at $45.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Barrick Gold (ABX) Tops Q3 EPS by 4c
- New Oriental Education (EDU) PT Raised to $60 at Brean Capital
- Needham & Company Cuts Price target Following Mobile Mini's (MINI) Weak 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesCredit Suisse, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!