Deutsche Bank Maintains Hold on Brown-Forman, Lowers Price Target to $63
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Steve Powers has maintained a Hold rating on Brown-Forman (NYSE:BF) but has reduced the price target from $66 to $63.
November 16, 2023 | 8:48 pm
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NEUTRAL IMPACT
Deutsche Bank maintains a Hold rating on Brown-Forman and lowers the price target from $66 to $63, indicating a cautious outlook on the stock's value.
The reduction in price target by Deutsche Bank suggests a slightly less optimistic valuation of Brown-Forman's stock, which could lead to a neutral short-term impact on the stock price. Investors may have already anticipated this conservative outlook, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Deutsche Bank maintains a Hold rating on Brown-Forman and lowers the price target from $66 to $63, which may also affect the Class B shares.
While the article does not explicitly mention Class B shares, the price target adjustment for Brown-Forman typically affects both classes of shares similarly. The impact is expected to be neutral as the market adjusts to the new price target.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80