Oscar Gruss Downgrades Beam Inc (BEAM) to Reduce; Trading With an Over the Top Shelf Premium

Oscar Gruss downgraded Beam Inc (NYSE: BEAM) from Hold to Reduce, price target cut from $51 to $47.

Oscar analyst said, "BEAM’s share price is trading with a takeover premium;
rumors have been circulating since prior to the spin-off that Diageo PLC (NYSE: DEO) has an interest in acquiring BEAM. The Company has stated it is focused on expanding through brand extensions and selective acquisitions. We feel investors have been bandying around the takeover talk and that it is probably too early in BEAM’s history as a standalone public company to consider a sale of the company."

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 $51.94 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• ByteDance Prefers TikTok Shutdown in US if Legal Options Fail - Reuters
• Jefferies Downgrades Calix (CALX) to Hold
• Needham Downgrades HashiCorp Inc (HCP) to Hold