Barclays analyst Lauren Lieberman raised her price target for Brown-Forman to $60 from $51 while keeping an Equal Weight rating on the shares. While the company's fiscal Q4 results were "disappointing on several fronts," it is entering the new fiscal year with "relatively fewer unknowns," Lieberman tells investors in a research note. Potential headwinds from European tariffs are known and already baked into the fiscal 2020 outlook and consensus numbers, says the analyst.

Reports Q1 revenue $431M, consensus $427.89M. "Barnes continues to advance our business transformation strategy with solid first-quarter results, additional long-term Aerospace agreements benefiting from our MB Aerospace acquisition, and the completed sale of the Associated Spring and Hanggi businesses in April," said Thomas J. Hook, President and CEO of Barnes. "Following the divestiture, an increasing majority of our earnings are driven by Aerospace, where we are investing to take full advantage of strong demand and attractive growth opportunities. And we continue to integrate, consolidate, and rationalize our Industrial business to further optimize our portfolio for long-term profitable growth. Our comprehensive strategic review is ongoing, and we remain committed to reshaping and positioning Barnes to maximize value for our shareholders. We look forward to sharing our ongoing progress."