Wedbush Maintains Neutral on Brown-Forman, Lowers Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Wedbush analyst Gerald Pascarelli has maintained a Neutral rating on Brown-Forman (NYSE:BF) and reduced the price target from $70 to $65.
November 24, 2023 | 3:46 pm
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NEGATIVE IMPACT
Wedbush analyst Gerald Pascarelli maintains a Neutral stance on Brown-Forman but lowers the price target from $70 to $65.
The reduction in price target by Wedbush suggests a less optimistic outlook on Brown-Forman's stock value, which could lead to a negative short-term impact on the stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The article does not provide specific information on Brown-Forman's class B shares (NYSE:BF/B), but the analysis likely applies similarly to both classes of shares.
Although the article specifically mentions Brown-Forman's class A shares (NYSE:BF), the price target adjustment is typically reflective of the company's overall performance and outlook, which affects both BF and BF/B shares. The lack of specific mention of BF/B does not preclude similar market reactions for class B shares.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80