A Reversal for Brown-Forman Corporation (BF-B) Is Near. The Formed Bullish Wedge Up Pattern

May 16, 2018 - By Tina Thibodeau

Brown-Forman Corporation (NYSE:BF.B) Logo

The stock of Brown-Forman Corporation (BF-B) formed an up wedge with $60.66 target or 4.00 % above today’s $58.33 share price. The 9 months wedge indicates low risk for the $27.12 billion company. If the $60.66 price target is reached, the company will be worth $1.08B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.64% or $0.37 during the last trading session, reaching $58.33. About 218,572 shares traded. Brown-Forman Corporation (NYSE:BF.B) has risen 42.28% since May 16, 2017 and is uptrending. It has outperformed by 30.73% the S&P500.

Brown-Forman Corporation (NYSE:BF.B) Ratings Coverage

Among 5 analysts covering Brown-Forman B (NYSE:BF.B), 1 have Buy rating, 0 Sell and 4 Hold. Therefore 20% are positive. Brown-Forman B had 12 analyst reports since December 6, 2017 according to SRatingsIntel. As per Wednesday, December 6, the company rating was maintained by RBC Capital Markets. The firm earned “Buy” rating on Wednesday, March 7 by Pivotal Research. The firm has “Hold” rating by RBC Capital Markets given on Thursday, March 8. As per Wednesday, March 7, the company rating was maintained by Stifel Nicolaus. Cowen & Co maintained Brown-Forman Corporation (NYSE:BF.B) rating on Wednesday, December 6. Cowen & Co has “Hold” rating and $71.0 target. Stifel Nicolaus maintained Brown-Forman Corporation (NYSE:BF.B) on Friday, December 22 with “Hold” rating. The stock has “Hold” rating by SunTrust on Wednesday, March 7. Pivotal Research downgraded Brown-Forman Corporation (NYSE:BF.B) rating on Thursday, December 7. Pivotal Research has “Hold” rating and $65.0 target. The rating was maintained by Stifel Nicolaus with “Hold” on Thursday, February 1. On Wednesday, December 6 the stock rating was maintained by SunTrust with “Hold”.

More news for Brown-Forman Corporation (NYSE:BF.B) were recently published by: Globenewswire.com, which released: “Research Report Identifies Antero Midstream Partners LP, Genesis Energy, NextEra Energy Partners, LP, Wabash …” on April 20, 2018. Investorplace.com‘s article titled: “3 Stocks To Generate Excellent Passive Income Over Long Haul” and published on May 14, 2018 is yet another important article.

Brown-Forman Corporation manufactures, bottles, imports, exports, markets, and sells various alcoholic beverages worldwide. The company has market cap of $27.12 billion. It provides spirits, wines, ready-to-drink cocktails, whiskey, vodka, tequilas, champagnes, brandy, and liqueur. It has a 37.71 P/E ratio. The firm offers its products primarily under the Jack Daniel's, Gentleman Jack, Korbel, Woodford Reserve, Finlandia, el Jimador, Herradura, Sonoma-Cutrer, Canadian Mist, GlenDronach, BenRiach, Glenglassaugh, Chambord, Early Times, Old Forester, Pepe Lopez, Antiguo, Coopers' Craft, Collingwood, and Slane Irish brands.

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