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