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NEW YORK (TheStreet) -- Brown Forman's  (BF.B) (BF.A)  price target was upped to $95 from $90 at Barclays on Tuesday morning. 

Barclays noted that the spirits industry faces global competition, but the firm said it believes Brown Forman's success in building a well-rounded stockpile of spirits and "favorable category trends" should continue to contribute to earnings growth in the short term.

The firm also mentioned that the company's fiscal 2016 first quarter earnings results were mostly in line with analysts' expectations. 

On Wednesday, Brown Forman reported earnings of 75 cents per share on revenue of $900 million for the most recent quarter. 

Shares of the spirits company are lower by 2.49% to $95.77 in early morning trading today. 

Separately, TheStreet Ratings team rates BROWN FORMAN CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

TheStreet Recommends

"We rate BROWN FORMAN CORP (BF.B) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins, good cash flow from operations and growth in earnings per share. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."

You can view the full analysis from the report here: BF.B Ratings Report

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