Boston Beer Company: Hard Mountain Dew Is Still A Catalyst, 3 Analysts Cut Forecasts After Q2 Results
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Shares of Boston Beer Company Inc (NYSE:SAM) were climbing in early trading on Friday, after the company reported its second-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
- Goldman Sachs analyst Bonnie Herzog reiterated a Sell rating, while reducing the price target from $210 to $230.
- RBC Capital Markets analyst Nik Modi maintained a Sector Perform rating, while cutting the price target from $332 to $318.
- Piper Sandler analyst Michael Lavery reaffirmed an Overweight rating, while slashing the price target from $344 to $325.
Check out other analyst stock ratings.
Goldman Sachs: Boston Beer Company reported its quarterly earnings at $4.39 per share, significantly missing the consensus of $5.01 per share, due to softer-than-expected depletions and shipments as well as ongoing costs that resulted in disappointing gross margins, Herzog said in a note.
Management lowered the high end of their full-year depletion and shipment guidance ranges to reflect low-single-digit …
Full story available on Benzinga.com
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