UPDATE: Goldman Sachs Downgrades Beam; Raises PT

According to a research report published earlier today, Goldman Sachs has downgraded Beam

from Buy to Neutral, and has raised PT from $2 to $58. In the research report, Goldman Sachs said, “Increasing expectations have already lifted consensus estimates. We are only 1% above consensus in 2012 despite our favorable view of BEAM's growth potential. We believe increasing bourbon growth in the US, favorable international exposure, and strong innovation capabilities will drive 5-6% comparable sales growth and high-single digit EBIT growth over each of the next three years.” Beam closed yesterday at $58.99.