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On Thursday, Truist Securities revised its price target for Brown Forman (NYSE:BFb) (NYSE:BF-B) shares, reducing it to $40 from the previous $45, while maintaining a Hold rating on the stock. The adjustment follows an earlier note released by the firm.
The analysts at Truist Securities have updated their financial forecasts for Brown Forman, modifying their FY25 sales and earnings per share (EPS) estimates to $4.05 billion and $1.84, respectively. This marks a slight change from their earlier projections of $4.08 billion in sales and $1.74 in EPS. Additionally, the FY26 estimates have been revised downward to $4.12 billion in sales and $1.75 in EPS from the previously anticipated $4.16 billion and $1.82.
The decision to lower the price target was based on these revised estimates, as explained by the analysts in their commentary. They stated, "We are changing our FY25 Sales/EPS estimates to $4.05B/$1.84 from $4.08B/$1.74 prior and lowering our FY26 estimates to $4.12B/$1.75 from $4.16/$1.82 prior. We are lowering our price target to $40, from $45 prior. Maintain Hold."
The current rating and price target set by Truist Securities reflect their latest analysis and expectations for Brown Forman’s financial performance over the next two fiscal years. The firm’s analysts have chosen to keep a neutral stance with the Hold rating, indicating that they do not see significant upside or downside potential in the stock at the moment.
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