Morgan Stanley Upgrades Brown-Forman to “Equal-Weight” (BF-B)
Morgan Stanley analysts upgraded alcoholic beverage maker Brown-Forman Corporation (BF-B) on Friday, as the company’s revenue risks have subsided.
The analysts upgraded BF-B from “Underweight” to “Equal-Weight.”
A Morgan Stanley analyst commented, “There are two reasons for our upgrade: 1) revenue risk has subsided, and 2) recent stock price underperformance makes valuation less stretched.”
Brown-Forman shares were up $2.02, or +3.04%, during morning trading on Friday. The stock is up +8.09% year-to-date.
The Bottom Line
Shares of Brown-Forman (BF-B) have a dividend yield of 1.50% based on Friday’s intraday trading price of $68.15 and the company’s annualized dividend payout of $1.02 per share.
Brown-Forman Corporation (BF-B) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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