UBS Lifts PT on Brown Forman (BF-b), Sees Continued Momentum

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UBS raised its price target on Buy-rated Brown Forman (NYSE: BF-B) from $71 to $75 after the company delivered a 3 cent beat in Q4.

"We believe momentum will continue into FY14 with 1) strong, balanced volume growth (+6%), 2) pricing driving gross margin expansion (100bps), and 3) operating leverage as international markets achieve scale," the analyst said.

The firm raised FY14 EPS from $3.10 to $3.14.

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 $67.88 yesterday, with a 52 week range of $60.88-$97.99.

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