As previously reported, Roth Capital upgraded Brown-Forman (BF.B) to Buy from Neutral with a unchanged $38 price target With the recent volatility and encouraging reports regarding the EU no longer recommending tariffs on American Whiskey, the firm contends that the opportunity to own Brown-Forman “skews very favorably”, the analyst tells investors in a research note. The stock also trades at a enterprise value to next-12-months’ EBITDA of 13-times, a level not seen since early 2012 and two standard deviations below the 10-year average, the firm adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BF.B:
- Brown-Forman upgraded to Buy from Neutral at Roth Capital
- Trump Trade: U.S. President threatens additional tariffs on China of 50%
- EU proposes 25% counter-tariffs, Bourbon removed from list, Reuters says
- EU removes U.S. bourbon from list of counter-tariff targets, Reuters says
- Brown-Forman initiated with a Hold at Berenberg