Nomura Comments on Beam (BEAM)

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Analysts at Nomura Equity Research raised their price target on Beam Inc (NYSE: BEAM) to $53.00 (from $52.00), while maintaining a Reduce rating on the stock.

Analyst Ian Shackleton said "We would see the improving US spirits dynamic as a key driver in the increased FY guidance, although a better contribution from newly acquired Pinnacle vodka is also a factor. We see a more balanced revenue growth developing for the company in the next few quarters, with industry price momentum building (vs 2Q where the company indicates 75% of revenue growth was down to volumes)."

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 $61.94 yesterday, with a 52 week range of $40.50-$64.00.

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