Citi analyst Filippo Falorni lowered the firm’s price target on Brown-Forman (BF.B) to $43 from $50 and keeps a Neutral rating on the shares ahead of the earnings report on December 5. The firm expects a soft quarter, driven by soft trends in the U.S., as evidenced by weak Nielsen data, and several international markets. Citi says its negative short-term view on Brown-Forman is exacerbated by tariff risk.
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