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Fly News Breaks for September 20, 2019
BF.B, BF.A
Sep 20, 2019 | 07:23 EDT
MKM Partners analyst Bill Kirk last night initiated coverage of Brown-Forman (BF.B) with a Neutral rating and $59 price target. The U.S., as recent exports data show, is facing a greater than 40% decline in whiskey exports to Europe, Kirk tells investors in a research note. He believes this creates near-term pressure and could undermine some of the positive U.S. pricing trends. Amidst this backdrop, the analyst sees little valuation upside for Brown-Forman.
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