Morgan Stanley raised the firm’s price target on Brown-Forman (BF.B) (BF.A) to $47 from $45 and keeps an Equal Weight rating on the shares. The firm said it remains Equal Weight following the Q2 beat and reiterated FY25 guidance, with U.S. and global spirits markets still soft and limited visibility around a recovery, but easier comps ahead. The firm added that it is increasingly concerned about over-supply of American whiskey over the next few years as current barreled whiskey reaches maturity, which could be exacerbated by retaliatory tariffs impacting international demand.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BF.A:
- Morning Movers: Fiserv shares drop following CEO’s nomination to Trump’s cabinet
- Brown-Forman reports Q2 EPS 55c, consensus 49c
- Brown-Forman backs FY25 organic net sales view up 2%-4%
- Is BF.A a Buy, Before Earnings?
- Brown-Forman price target lowered to $49 from $53 at Barclays
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
