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Investing.com - Brown Forman (NYSE:BF-B) maintained its Hold rating from Berenberg, which reiterated its $33.40 price target following the company’s Q1 2026 earnings release.
The spirits maker reported Q1 net sales of $924 million, exceeding analyst consensus of $907 million, while organic operating profit reached $260 million, surpassing expectations of $245 million for the quarter ending July 31.
In the U.S. market, Brown Forman faced headwinds with organic net sales decreasing by 2.0%, primarily attributed to divestments and volume weakness across key brands in its portfolio.
Developed International markets also experienced a 2.0% organic net sales decline, with Berenberg noting lower volumes of Jack Daniel’s Tennessee Whiskey in Germany and the UK, alongside the absence of American-made alcohol products from retail shelves in most Canadian provinces.
Emerging markets provided a bright spot for the company, with organic net sales increasing 25.0% year-over-year, driven primarily by higher volumes in Brazil and Turkey.
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