Wedbush lowered the firm’s price target on Brown-Forman to $65 from $70 and keeps a Neutral rating on the shares ahead of the company’s fiscal Q2 results on December 6. Based on recent consumer takeaway trends, very tough shipment compares, unfavorable commentary from Diageo on Latin America and a modestly worse outlook on currency, Wedbush is cautious on the share setup headed into the print, the analyst tells investors in a research note. The firm sees more downside risk than upside to Brown-Forman’s current guidance.
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