Goldman Sachs Boosts Price Target on Beam (BEAM), Keeps Top Rating

Goldman Sachs raised its price target on Conviction Buy List-rated Beam Inc (NYSE: BEAM) from $54 to $56, calling the stock their top pick in alcohol.

"BEAM is positioned as a share gainer in US alcohol given its stepped up brand investment, innovation runway (Skinnygirl line extensions, Pucker vodka, flavored bourbon), and exposure to higher growth categories like bourbon and tequila," the firm said.

They also said appeal as a strategic M&A target provides share support.

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.

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