JPMorgan downgraded Brown-Forman (BF.B) to Neutral from Overweight with a price target of $43, down from $45. The firm sees “still challenged trends” in the U.S. and developed international markets for the company. While the last earnings report showed some improvement, Brown-Forman still isn’t “fully out of the woods” given tariff uncertainty in the coming months and ongoing soft consumption trends in the U.S., the analyst tells investors in a research note. JPMorgan sees risk of a “double whammy” for the company if European Union retaliatory tariffs return and if the U.S. slaps tariffs on Mexican imports.
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Read More on BF.B:
- Brown-Forman downgraded to Hold from Buy at Truist
- Brown-Forman price target raised to $46 from $45 at Deutsche Bank
- Brown-Forman price target raised to $50 from $45 at Evercore ISI
- Brown-Forman price target lowered to $46 from $48 at Roth MKM
- Brown-Forman initiated with a Hold at Needham
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
