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In a report published on Friday, Morgan Stanley analyst Dara Mohsenian upgraded Brown-Forman BF from Underweight to Equal-weight and removed the price target on the company of $61.75.
In the report, Morgan Stanley stated, "There are two reasons for our upgrade: 1) revenue risk has subsided, and 2) recent stock price underperformance makes valuation less stretched."
Brown-Forman closed on Thursday at $66.50.
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