Boston Beer Company: Hard Mountain Dew Is Still A Catalyst, 3 Analysts Cut Forecasts After Q2 Results
Portfolio Pulse from Priya Nigam
Boston Beer Company (NYSE:SAM) shares rose by 4.93% after Q2 results. Analysts from Goldman Sachs, RBC Capital Markets, and Piper Sandler cut their price targets but maintained their ratings. Key issues include lower-than-expected earnings, softer depletions, and higher costs. However, Hard Mountain Dew remains a potential future catalyst.
July 26, 2024 | 3:23 pm
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Boston Beer Company reported Q2 earnings of $4.39 per share, missing the consensus of $5.01. Analysts from Goldman Sachs, RBC Capital Markets, and Piper Sandler cut their price targets but maintained their ratings. Key issues include lower-than-expected depletions and higher costs. However, Hard Mountain Dew is expected to be a catalyst in 2025.
The mixed analyst ratings and reduced price targets indicate a neutral short-term impact. While earnings missed expectations, the future potential of Hard Mountain Dew provides some optimism.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100