Boston Beer's Next Few Months Are Crucial: Analyst On Investment Impact And Guidance Midpoint
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Gerald Pascarelli has reiterated a Neutral rating on Boston Beer Company Inc (SAM) and raised the price target from $350 to $370. The analyst believes that the company could deliver shipments or depletions above the midpoint of guidance, resulting in about 100 basis points of upside relative to current street estimates. The raised price target reflects the belief that the multiple has support coming off a strong 2Q. However, the next few months will be crucial for SAM as it will provide better insight into whether increases in investment spend will have a sustained impact on performance.
September 08, 2023 | 6:24 pm
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Boston Beer Company Inc (SAM) has had its price target raised from $350 to $370 by Wedbush analyst Gerald Pascarelli. The analyst believes that SAM could deliver shipments or depletions above the midpoint of guidance, which could result in about 100 basis points of upside relative to current street estimates. However, the next few months will be crucial for SAM as it will provide better insight into whether increases in investment spend will have a sustained impact on performance.
The raised price target and the analyst's belief that SAM could deliver shipments or depletions above the midpoint of guidance could have a positive impact on the stock price in the short term. However, the next few months will be crucial for SAM as it will provide better insight into whether increases in investment spend will have a sustained impact on performance. This uncertainty could lead to volatility in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100