Is Boston Beer On Track For 5% Volume Decline? Wedbush Analyst's Forecast And Expectations For FY23
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Gerald Pascarelli has reiterated a Neutral rating on Boston Beer Company Inc (SAM) with a $325 price target. The company is expected to report 2Q FY23 earnings on August 27, 2023, with an expected EPS of $3.22, below the consensus EPS of $3.43. The analyst predicts a 4.2% revenue decline and a 5% volume decline for the full year. SAM's efforts to double-down on Twisted Tea are paying off, but this is offset by pressure in Truly.
July 21, 2023 | 6:50 pm
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Boston Beer Company Inc (SAM) is expected to see a 4.2% revenue decline and a 5% volume decline for FY23, according to Wedbush analyst Gerald Pascarelli. The analyst maintains a Neutral rating on the stock with a $325 price target.
The analyst's forecast of a revenue and volume decline for Boston Beer Company indicates potential challenges for the company in the upcoming fiscal year. This could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100