Doubling Down On Wholesale: BRC's Revenue Projection For The Long Haul
Portfolio Pulse from Lekha Gupta
Needham analyst Matt McGinley initiated coverage on BRC Inc (NYSE:BRCC) with a Hold rating. He expects the company to benefit from distribution gains in ready-to-drink and roast coffee in 2023 but projects a slight decline in the DTC business. The analyst sees wholesale business as the largest segment over time, with revenues more than doubling to over $500 million in the long term.
May 31, 2023 | 6:05 pm
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Needham analyst Matt McGinley initiated coverage on BRC Inc (NYSE:BRCC) with a Hold rating, expecting growth in wholesale business and revenues doubling to over $500 million in the long term.
The analyst's Hold rating indicates a neutral outlook for the stock in the short term. While the expectation of growth in the wholesale business and revenues doubling in the long term is positive, the projected decline in the DTC business and shift in advertising spending may offset the potential gains. Therefore, the short-term impact on the stock price is neutral.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100