In a report released today, Alexander Scharf from Maxim Group maintained a Buy rating on Craft Brewers Alliance (BREW), with a price target of $21. The company’s shares closed yesterday at $15.03.
Scharf wrote:
“We expect Kona to grow high double-digits in 2019 on increased marketing. Due to a larger, faster-growing core revenue base, we are increasing out-year revenue and earnings estimates, and, therefore, maintain our $21 PT.”
According to TipRanks.com, Scharf is ranked #3593 out of 5231 analysts.
Currently, the analyst consensus on Craft Brewers Alliance is a Moderate Buy with an average price target of $20.33, representing a 35.3% upside. In a report issued on March 8, Cowen & Co. also reiterated a Buy rating on the stock with a $23 price target.
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Based on Craft Brewers Alliance’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $532K. In comparison, last year the company had a net profit of $7.84 million.
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Craft Brew Alliance, Inc. is 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.
