Bernstein SocGen Group Reiterates Market Perform Rating on Brown Forman (BF-B)

Bernstein SocGen Group analyst Nadine Sarwat reiterated a Market Perform rating and $29.00 price target on Brown Forman (NYSE: BF-B).

The analyst commented: "Brown-Forman reported F26 results last week, with the print perfectly encapsulating the trade-offs investors face with this name… with little visibility on if the (whiskey) glass is halffull or half-empty (perhaps both). We update our model resulting in a +0.8% increase in our NTM+1 EPS, and maintain our $29 Target Price. We continue to like Brown-Forman’s strong portfolio, market share gains in the US and international growth opportunities. However, for the foreseeable future these relative strengths will be offset by pressures on gross margin from more costly barreled whiskey. We maintain our Market-Perform rating."

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 $26.44 yesterday.

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