Brown‑Forman (BF-B) Stock: $73 Price Target And Sector Perform Rating

By Amit Chowdhry ● Mar 5, 2022
  • The shares of Brown-Forman Corporation (NYSE: BFA, BFB) have received a $73 price target from RBC Capital. These are the details.

The shares of Brown-Forman Corporation (NYSE: BFA, BFB) have received a $73 price target from RBC Capital. And RBC Capital analyst Nik Modi is maintaining a Sector Perform rating on the shares.

Brown-Forman recently reported financial results for its third quarter and nine months ended January 31, 2022. For the third quarter, the company’s reported net sales of $1,037 million increased 14% (+22% on an organic basis) compared to the same prior-year period. In the quarter, reported operating income increased 24% to $347 million (+43% on an organic basis) and diluted earnings per share increased 19% to $0.54.

And for the first 9 months of the fiscal year, the company’s reported net sales increased 11% to $2,937 million (+14% on an organic basis) compared to the same prior-year period. And year-to-date reported operating income decreased 4% to $958 million (+19% on an organic basis) and diluted earnings per share declined 12% to $1.43, primarily due to the gain from the sale of the Canadian Mist, Early Times, and Collingwood brands in the prior fiscal year.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.