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Investing.com - Bernstein SocGen Group has reiterated an Outperform rating on Brown-Forman Corp (NYSE:BF) with a price target of $37.50. The company demonstrates strong financial performance with a 26.1% revenue growth and an attractive P/E ratio of 13.6x. According to InvestingPro analysis, the stock currently trades with low price volatility and shows a robust free cash flow yield.
The research firm maintained its positive outlook following Brown-Forman’s investor day held Wednesday in Nashville, Tennessee, which focused on portfolio strategy for both brands and geographies with emphasis on the Jack Daniel’s brand.
This investor event followed a previous session held 18 months ago in Louisville, Kentucky, which had primarily featured presentations from the company’s CEO and CFO.
Bernstein SocGen noted that management’s messaging around "controlling the controllables," prudent capital allocation, and an open communication approach were positively received by attendees.
The firm acknowledged, however, that the investor day alone would likely not attract new investors to the stock given the current uncertain environment and limited visibility facing the entire spirits industry.
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