Brown-Forman Faces Topline Headwinds in Fiscal Q1, RBC Says

12:08 PM EDT, 09/01/2026 (MT Newswires) -- Brown-Forman (BF.B) is faced with topline headwinds in fiscal Q1 due to lapping Blackberry launch and distributor transitions, RBC said in a note Monday. The results are due Sept. 2. The company is still working through the burden, with still muted category dynamics, and mounting consumer pressures, it said. "Peer reads and our distributor checks confirm a challenged US spirits backdrop with subdued consumer confidence and affordability pressures," the report said. The note said international is faring much better amid expectations of risks out there given recent channel work on trends in August in the US. RBC has a sector perform rating with a price target of $27.