BofA analyst Bryan Spillane lowered the firm’s price target on Brown-Forman (BF.A) (BF.B) to $30 from $37 and keeps an Underperform rating on the shares after the company reported Q4 EPS of 31c, which was ahead of the firm’s forecast of 29c but below Visible Alpha consensus of 34c. The firm’s Underperform rating reflects the view that global spirit sales will remain pressured for a prolong period of time and it believes a lower multiple is justified given increased concerns on the long term sustainability of the spirits category, the analyst tells investors in a post-earnings note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BF.B:
- Brown-Forman price target lowered to $28 from $35 at Citi
- Brown-Forman price target lowered to $31 from $38 at Barclays
- Brown-Forman price target lowered to $28 from $34 at JPMorgan
- Brown-Forman downgraded to Neutral from Outperform at BNP Paribas Exane
- Brown-Forman Reports Fiscal 2025 Earnings Amid Challenges
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue