Goldman Sachs Downgrades Brown Forman (BF-B) to Sell, Sees a Miss

November 30, 2012 8:07 AM EST
Get Alerts BF-B Hot Sheet
Price: $98.36 +1.54%

Rating Summary:
    5 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 5 | Down: 17 | New: 12
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Goldman Sachs downgraded Brown Forman (NYSE: BF-B) from Neutral to Sell with a price target of $65.00 (from $63.00).

The firm said while they are positive on the long-term fundamental outlook, shares are trading at at peak valuation (15.5-16X 2013 EV/EBITDA) and they see risk of a 2Q13 miss. Goldman estimates 2Q13 EPS of $0.73, versus the consensus of $0.78. They see the miss attributable more to inventory de-stocking and a tough year-ago comparison.

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 $70.14 yesterday.

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