Breaking News

Deutsche Bank analyst Steve Powers raised the firm's price target on Brown-Forman to $77 from $74 and keeps a Hold rating on the shares ahead of the company's fiscal Q2 results.

Truist analyst Bill Chappell raised the firm's price target on Brown-Forman to $75 from $65 and keeps a Hold rating on the shares. The analyst notes the company reported better-than-expected Q1 results with both sales and adjusted EPS results above expectations but did not reinstated guidance. The company's U.S. retail results have remained resilient through the COVID-impacted period, more than offsetting the weakness from on-premise and emerging markets, he contends.

Morgan Stanley analyst Dara Mohsenian raised the firm's price target on Brown-Forman (BF.A, BF.B) to $66 from $56 following the company's better than expected Q1 results, which he sees being partially aided by timing. Despite the better than expected results, Mohsenian keeps an Underweight rating on Brown-Forman shares, citing his view that the stock's valuation is too high relative to other "COVID-recovery names," such as Coca-Cola (KO) and Estee Lauder (EL) that he sees having similar or higher long-term sales growth prospects.

Deutsche Bank analyst Steve Powers raised the firm's price target on Brown-Forman to $74 from $66 and keeps a Hold rating on the shares following the company's Q1 results. Driving the fundamental outperformance were better than expected results across the board with the exception of travel retail, but also several timing factors that are unlikely to repeat in go-forward quarters, Powers tells investors in a research note.