Brown-Forman Shares Face Headwinds Amid Analyst Downgrade and Management Shifts

Brown-Forman US1156372096

Shares of spirits giant Brown-Forman are encountering significant selling pressure following a recent analyst action. Citigroup has reinforced its bearish stance, reducing its price target for the stock from $27 to $24 and maintaining a “Sell” recommendation. This move has contributed to the equity trading near the lower end of its 52-week range, a period marked by strategic corporate adjustments including a major distribution overhaul and a substantial share repurchase authorization. Concurrently, the announced departure of the company’s Chief Financial Officer adds a layer of transition for the coming year.