Morgan Stanley Maintains Overweight on Brown-Forman, Lowers Price Target to $68
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Eric Serotta has maintained an Overweight rating on Brown-Forman but has reduced the price target from $75 to $68.

December 08, 2023 | 1:07 pm
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NEUTRAL IMPACT
Morgan Stanley maintains an Overweight rating on Brown-Forman, signaling confidence in the company's prospects, but lowers the price target from $75 to $68, suggesting a more conservative valuation.
While the Overweight rating indicates a positive outlook on Brown-Forman's stock, the reduction in price target may reflect a reassessment of growth expectations or market conditions that could temper short-term price performance. The impact is neutral as the positive rating is counterbalanced by a lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100