Brown-Forman (BF-B) Outlook Improves as UBS Adjusts EPS and Price Target

Brown-Forman Corporation (NYSE:BF-B) ranks among the best sin stocks to buy right now. On August 22, UBS maintained its Neutral rating on Brown-Forman Corporation (NYSE:BF-B) and raised its price target from $30 to $33 ahead of the company’s first-quarter earnings report. UBS also raised its earnings per share outlook from $0.36 to $0.38.

In its revised outlook, UBS mentioned cost pressures, currency changes, and modified expectations about consumer demand. The firm noted that since its challenging fourth-quarter report in early June, Brown-Forman’s stock has done well.

However, UBS stated that visibility into sequential improvement trumps value considerations at this time, implying that investors should wait for clearer signs of recovery before placing stakes in the stock.

Brown-Forman Corporation (NYSE:BF-B) manufactures, imports, exports, and markets a variety of alcoholic beverages. The company’s product line includes beverages like whiskies, tequila, vodka, ready-to-drink cocktails, and wine.

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Disclosure: None. This article is originally published at Insider Monkey.