Truist analyst Bill Chappell lowered the firm’s price target on Brown-Forman to $50 from $80 but keeps a Buy rating on the shares. The firm is adjusting its model after the company’s Q4 results last week, reducing its FY25 EPS view by 18c to $1.84 and its FY26 view by 19c to $1.97. Truist adds however that the long runway of growth is still ahead for the U.S. whiskey category as evidenced by recent announcements of capacity expansion for most of the leading players.
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