UPDATE - UBS Upgraded Brown Forman (BF-B) to Buy; Aroma is Sweet

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UPDATE - UBS upgraded Brown Forman (NYSE: BF-B) from Neutral to Buy. PT raised from $83 to $98.

Analyst, Kaumil S. Gajrawala, said, "We believe Brown-Forman revenue growth is poised to accelerate to 7.4% CAGR in FY12-15e (vs. 1.2% CAGR in FY08-11), based on multiple growth drivers. Our FY13e EPS goes to $4.07 (from $4.02) and our FY14e EPS goes to $4.57 (from $4.32)."

Gajrawala sees continued outperformance in spirits (noting bourbon), innovation in category/product and continued EPS growth for next several years.

To see more ratings changes on BF-B, Click Here

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