Nomura Securities Cuts Price Target on Beam Inc (BEAM); Maintains 'Reduce' Rating
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Price: $67.47 -1.26%
Rating Summary:
7 Buy, 2 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 22
Rating Summary:
7 Buy, 2 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 22
Trade BEAM Now!
Nomura Securities maintains a 'Reduce' on Beam Inc (NYSE: BEAM) price target of $46.00 (from $52.00).
Analyst, Ian Shackleton, said, "After a couple of acquisitions in the past few months, with Cooley Distillery in Ireland and the Pinnacle vodka brand, we do not see scope for further acquisitions in the near term to be funded by debt. With net debt/EBITDA post-Pinnacle over 3x, we see a major focus now on developing existing brands rather than further M&A."
For an analyst ratings summary and ratings history on Beam Inc click here. For more ratings news on Beam Inc click here.
Shares of Beam Inc closed at $61.09 yesterday, with a 52 week range of $40.50-$61.81.
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Analyst, Ian Shackleton, said, "After a couple of acquisitions in the past few months, with Cooley Distillery in Ireland and the Pinnacle vodka brand, we do not see scope for further acquisitions in the near term to be funded by debt. With net debt/EBITDA post-Pinnacle over 3x, we see a major focus now on developing existing brands rather than further M&A."
For an analyst ratings summary and ratings history on Beam Inc click here. For more ratings news on Beam Inc click here.
Shares of Beam Inc closed at $61.09 yesterday, with a 52 week range of $40.50-$61.81.
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