Truist has revised its price target for Brown-Forman (BF.B), reducing it from $40 to $35 while maintaining a Hold rating on the company's shares. This adjustment comes as a response to evolving market trends and a reduction in valuation multiples observed across various industry sectors.
The decision to lower the price target reflects a cautious stance as Brown-Forman approaches its quarterly earnings announcement. The firm anticipates that the current market conditions could impact the company's performance and valuation in the short term.
