As previously reported, Exane BNP Paribas analyst Kevin Grundy initiated coverage of Brown-Forman (BF.B) with an Outperform rating and $48 price target. The stock in afternoon trading is up 3% to $42.77. The firm believes the spirits industry is likely nearing a bottoming of demand trends. Brown’s tariff risk is “manageable” even though it’s higher than most other consumer packaged goods companies, the analyst told investors in a research note. Exane believes the stock’s valuation creates an attractive entry point. The firm also initiated coverage of Constellation Brands (STZ) and Molson Coors (TAP) with Neutral ratings and price targets of $261 and $64, respectively.
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 Insiders’ Hot Stocks on TipRanks >>
Read More on BF.B:
- Brown-Forman chairman Campbell Brown to step down
- Brown-Forman initiated with an Outperform at Exane BNP Paribas
- Brown-Forman raises quarterly dividend 4% to 22.65c per share
- Brown-Forman price target lowered to $45 from $48 at BofA
- Brown-Forman price target lowered to $45 from $50 at Evercore ISI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
