RBC Capital keeps a Sector Perform rating and $30 price target on Brown-Forman (BF.B), noting that the firm expects sluggish category trends in the US and developed markets to cloud topline visibility. Jack Daniels Blackberry is off to a strong start, which is encouraging, but category dynamics are weighing on JD Black Label, which is key for the topline to see sustained improvement, the analyst tells investors in a research note.
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