In a report released today, Anthony Vendetti from Maxim Group initiated coverage with a Buy rating on Craft Brewers Alliance (BREW) and a price target of $21. The company’s shares opened today at $14.45, close to its 52-week low of $13.16.
Vendetti commented:
“We expect revenue growth to accelerate in 2019, driven primarily by increased marketing for the flagship Kona brand. Anheuser-Busch InBev (BUD – NR) can make a qualifying offer to purchase the company for $24.50 per share by August 23, 2019. Perich was appointed Strategy Officer. We introduce our 2020 estimates including revenue of $240M and GAAP EPS of $0.47.”
According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 17.6% and a 51.3% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Craft Brewers Alliance with a $20.33 average price target.
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Craft Brewers Alliance’s market cap is currently $284.5M and has a P/E ratio of 68.06. The company has a Price to Book ratio of 2.09.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock.
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Craft Brew Alliance, Inc. operates as an independent craft brewing company, which engages in brewing, branding, and marketing of craft beers. It operates through the Beer Related Operations and Brewpubs Operations segments.
