Goldman Sachs Downgrades Brown Forman (BF-B) to Sell, Sees a Miss
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Price: $72.88 +0.16%
Rating Summary:
2 Buy, 0 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 0 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade BF-B Now!
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, with a 52 week range of $60.88-$97.99.
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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, with a 52 week range of $60.88-$97.99.
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