#2 - Brown-Forman (NYSE:BF.B)
Brown-Forman Corporation (NYSE: BF.B) is one of the leading distillers, marketers, and retailers of premium spirits. The company is the home of iconic brands such as Jack Daniels and Woodford Reserve.
In 2024, the premium alcohol and spirits market is going through a period of normalization. For example, the company saw sales of its flagship Jack Daniels brand drop 6% year-over-year (YOY). However, that normalization is happening at the higher revenue and earnings numbers of the past two years rather than those of 2019. The BF.B stock price, however, is trading at levels not seen since 2017.
There's the opportunity and the challenge. Brown-Forman reports fourth-quarter and full-year earnings in June 2024. If those numbers disappoint, and inflation data suggests they might, the stock could have further to fall.
Citigroup Inc. (NYSE: C), one of the Brown-Forman analysts tracked by MarketBeat, upgraded BF.B stock from Sell to Neutral in April and assigned a $52 price target. That's lower than the $65.68 consensus price target but is still about 16% higher than the stock's price at its 52-week low.
About Brown-Forman
Brown-Forman Corporation, together with its subsidiaries, manufactures, distills, bottles, imports, exports, markets, and sells various alcoholic beverages. It provides spirits, wines, whiskey spirits, whiskey-based flavored liqueurs, ready-to-drink and ready-to-pour products, ready-to-drink cocktails, vodkas, tequilas, champagnes, brandy, bourbons, and liqueurs.
Read More - Current Price
- $46.58
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 2 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $54.33 (16.6% Upside)
