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Investing.com - Barclays (LON:BARC) has raised its price target on Brown Forman (NYSE:BFb) (NYSE:BF-B) to $33.00 from $31.00 while maintaining an Overweight rating on the stock.
The research firm cited ongoing strategic changes at the company as a factor in its decision, noting that Brown Forman "is not standing still in the current backdrop."
Barclays acknowledged that Brown Forman’s softer-than-expected fiscal year 2026 outlook issued in early June created room for either continuation of current conditions or a return to the gradual improvement seen before March.
The firm recognized that investor skepticism will likely persist regarding the "magnitude and timing" of improvement in Brown Forman’s performance.
Despite this uncertainty, Barclays observed that current share prices don’t seem to factor in much expectation of growth, which contributes to the firm’s continued interest in the stock.
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