UBS Maintains a 'Neutral' on Brown Forman (BF-B); Solid Trends Continue in F2Q

UBS maintains a 'Neutral' on Brown Forman (NYSE: BF-B) price target raised from $76 to $83.

UBS analyst says, "Following 2Q12 EPS, we are updating our estimates for BFB to reflect: 1) ongoing strong volume trends in core brands, 2) sequentially improving price/mix (picking up in 1H13), 3) ongoing GM headwinds from sustained input cost inflation and excise taxes, 4) moderating SG&A spending levels in 2H12, and 5) a higher tax rate in 2H12. Our FY12e EPS goes to $3.69, and our FY13e EPS goes to $4.16."

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 $80.07 yesterday.

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