Brown-Forman B was Downgraded to a Hold Rating at Credit Suisse

By Jason Carr

Brown-Forman B (NYSE: BF.B) received a Hold rating from Credit Suisse analyst Laurent Grandet today. The company’s shares opened today at $50.70.

According to TipRanks.com, Grandet is a 4-star analyst with an average return of 10.4% and a 90.0% success rate. Grandet covers the Consumer Goods sector, focusing on stocks such as Constellation Brands Inc, Monster Beverage Corp, and National Beverage.

Currently, the analyst consensus on Brown-Forman B is Hold and the average price target is $48, representing a -5.3% downside.

In a report issued on May 24, Stifel Nicolaus also reiterated a Hold rating on the stock with a $45 price target.

Based on Brown-Forman B’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $793 million and quarterly net profit of $182 million. In comparison, last year the company earned revenue of $729 million and had a net profit of $522 million.

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Brown-Forman Corp. engages in the production and distribution of alcoholic beverages. It offers champagne, liqueur, scotch, tequila, vodka, whiskey, and wine. Its brands include Jack Daniel, Finlandia, Herradura, El Jimador, New Mix, Canadian Mist, Chambord, Woodford Reserve, Sonoma Cutrer, and Korbel. The company was founded by George Garvin Brown in 1870 and is headquartered in Louisville, KY.