What Analysts are Saying About Brown-Forman

Dear Client:Brown-Forman has been at the heart of several analyst reports this week. Before the company's first half earnings release, analysts at Goldman Sachs downgraded Brown-Forman stocks to "sell" expecting the company's second quarter to be hurt by inventory destocking. UBS took the opposite view. Yesterday after the company released its numbers, UBS published a note expressing confidence in the future of B-F. "The company is experiencing volume growth, positive pricing, and alleviating input costs, as it enters this secular