Brown-Forman price target lowered to $60 from $67 at RBC Capital

RBC Capital lowered the firm’s price target on Brown-Forman to $60 from $67 and keeps a Sector Perform rating on the shares after its Q2 earnings miss. The firm states that it has been cautious on the stock for some time amid normalizing spirits trends and issues that came to fruition this quarter. Q2 growth came in notably softer, and while there may not be anything wrong with the spirits category longer term, RBC continues to see consumer pressures on the horizon, the analyst tells investors in a research note.