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Why Is Coffee Chain Dutch Bros Stock Gaining Today?

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Shares of Dutch Bros Inc (NYSE:BROS) shares are trading higher after TD Cowen analyst Andrew Charles upgraded the stock from Hold to Buy and raised the price target from $33 to $46.

On Tuesday, Dutch Bros reported quarterly earnings of 9 cents per share which beat the analyst consensus estimate of 2 cents by 350%.

Quarterly sales clocked in at $275.1 million, beating the analyst consensus estimate of $254.5 million by 8.09% and representing a 39.46% increase over sales of $197.27 million from the same period last year.

In the analyst’s view, Dutch Bros is demonstrating traction with the turnaround that leads the analyst to believe 2024 sets up as a …

Full story available on Benzinga.com

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