Citi Raises Estimates on Brown-Forman

Citi raises its estimates on Brown-Forman (NYSE: BF.B).

In a note to clients, Citi writes, "Given BFB's healthy trends YTD, and the accelerating growth that we expect from BFB's key international markets going forward, we are raising our estimates as follows: FY11 to $3.31 (from $3.13), FY12 to $3.63 (from $3.54) and FY13 to $4.06 (from $3.77)."

Citi maintains its Buy rating and increases its price target from $67 to $80 on BF.B.

BF.B is trading at $68.99.