Goldman Sachs Downgrades Beam Inc (BEAM) to Neutral

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Goldman Sachs downgraded Beam Inc (NYSE: BEAM) from Buy to Neutral but bumps its price target from $56 to $58.

"We remain constructive on BEAM's fundamentals and continue to view BEAM as an attractive strategic asset, however, we now believe upside is more limited absent a consummation of a deal," the analyst said.

Goldman tweaked FY12 EPS from $2.36 to $2.37, FY13 from $2.64 to $2.63 and FY14 from $2.95 to $2.92.

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 $58.99 yesterday, with a 52 week range of $40.50-$59.39.

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