Brown-Forman Class A Target Falls to $29 on Prolonged Whiskey Cost Pressure
Bernstein cut Brown-Forman Class A to Market Perform from Outperform and slashed its price target to $29 from $37.50, citing prolonged margin pressure from costlier barreled whiskey. The analyst firm believes higher barrel prices will weigh on profitability longer than previously expected.
1. Bernstein Lowers Rating and Price Target
Bernstein downgraded Brown-Forman Class A shares to Market Perform from Outperform and cut its price target to $29 from $37.50. The firm highlighted that elevated costs for barreled whiskey will persist, squeezing margins and delaying a return to stronger profitability.
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