RBC Capital Maintains Sector Perform on Brown-Forman, Lowers Price Target to $60
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Nik Modi has maintained a 'Sector Perform' rating on Brown-Forman (NYSE:BF) but has reduced the price target from $67 to $60.
December 07, 2023 | 4:58 pm
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NEGATIVE IMPACT
RBC Capital has maintained a 'Sector Perform' rating on Brown-Forman but lowered the price target from $67 to $60, indicating a potential downside or limited upside.
The reduction in price target by RBC Capital suggests that the analyst sees less growth potential or higher risk in Brown-Forman's stock, which could lead to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
RBC Capital's price target adjustment for Brown-Forman also implicitly affects the 'B' class shares, suggesting a similar potential downside or limited upside.
Although the 'B' class shares were not explicitly mentioned, the price target reduction for Brown-Forman generally affects all classes of shares, potentially leading to a similar negative short-term impact on 'B' class shares.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80