Barclays Maintains an 'Underweight' on Brown Forman (BF-B); Another Round
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Price: $28.42 +1.39%
Rating Summary:
5 Buy, 20 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 20 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Underweight' on Brown Forman (NYSE: BF-B) price target raised from $64 to $79.
Barclays analyst says, "Brown-Forman reported underlying EPS of $1.09, in-line with the Street. Our key takeaway was that underlying trends for the spirits category remain very strong - with solid volume gains globally, and early signs of an improving pricing environment."
"We remain impressed with the pace of global & US spirits volume growth, particularly in the whiskey/bourbon category. Jack Daniel's family depletions grew 14% in the first 6 months of the year, with a benefit from incremental sales of the new Tennessee Honey innovation...There is no change to our F2012 EPS forecast due to the FX headwind, though we are bumping up our F2013 estimate by a nickel to $3.85."
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.
Barclays analyst says, "Brown-Forman reported underlying EPS of $1.09, in-line with the Street. Our key takeaway was that underlying trends for the spirits category remain very strong - with solid volume gains globally, and early signs of an improving pricing environment."
"We remain impressed with the pace of global & US spirits volume growth, particularly in the whiskey/bourbon category. Jack Daniel's family depletions grew 14% in the first 6 months of the year, with a benefit from incremental sales of the new Tennessee Honey innovation...There is no change to our F2012 EPS forecast due to the FX headwind, though we are bumping up our F2013 estimate by a nickel to $3.85."
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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