Roth Capital Assigns Buy On Shares Of Craft Brewers Alliance, $19 PT
Roth Capital analyst Anton Brenner assigned a Buy rating on Craft Brewers Alliance Inc (NASDAQ:BREW) with a price target of $19.00.
Brenner wrote, “Having repositioned its portfolio of brands to appeal to the broad array of craft beer drinkers, we look for sustained strong volume increases over the next several years. A 700 bp improvement in gross profit margins to 35% is projected over the next four years.. We continue to believe that CBA is an attractive way to participate in the ongoing rapid expansion of the craft beer segment.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Anton Brenner has a total average return of 11.4% and a 65.7% success rate. Brenner has a 24.0% average return when recommending BREW, and is ranked #519 out of 3350 analysts.