In a report released today, Kevin Grundy from Jefferies reiterated a Hold rating on Boston Beer (NYSE: SAM), with a price target of $270. The company’s shares closed yesterday at $270.13.
Grundy commented:
“SAM delivered a mixed 3Q on stronger revs (+10% vs. Street), incl. +18% depletion growth, though an OI miss (-12%) as investments/freight weighed on OM %. Upwardly revised FY18 guide and +13% YTD depletions indicative of portfolio’s momentum (ex-beer), which should help sustain stock’s full ~30x EV/ULFCF multiple; however, we prefer Buy-rated STZ in the alcohol space. We lower our on further OM % pressure. PT to $270 on higher group multiple.”
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 6.8% and a 61.8% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Skyline Champion Corporation, Coca-Cola European Partners, and Constellation Brands Inc.
Currently, the analyst consensus on Boston Beer is a Hold with an average price target of $285.86, implying a 5.8% upside from current levels. In a report issued on October 18, Susquehanna also maintained a Hold rating on the stock with a $290 price target.
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The company has a one-year high of $329.95 and a one-year low of $160.40. Currently, Boston Beer has an average volume of 134K.
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Boston Beer Co., Inc. engages in the business of alcoholic beverages. It operates through Boston Beer Company, and A&S Brewing segments. The Boston Beer Company segment comprises of Samuel Adams, Twisted Tea, Angry Orchard, and Truly Spiked a& Sparkling brands.
