Roth Capital Reiterates Buy On Craft Brewers Alliance Ahead Of Q3 Earnings
In a research report issued today, Roth Capital analyst Anton Brenner reiterated a Buy rating on Craft Brewers Alliance (NASDAQ:BREW) with a $19 price target.
Brenner noted, “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. Management has projected a 500-700 bp improvement in gross profit margins over the next five years, and significant gains here already are apparent after two quarters. 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 9.2% and a 61.8% success rate. Brenner has a 27.3% average return when recommending BREW, and is ranked #648 out of 3347 analysts.