Credit Suisse Starts Boston Beer Company (SAM) at Underperform
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Credit Suisse initiates coverage on Boston Beer Company (NYSE: SAM) with a Underperform rating and a price target of $156.00.
Analyst Laurent Grandet commented, "We are initiating coverage of Boston Beer with an Underperform rating and a $156 target price. Our sales and EPS estimates are below the consensus, as we don't see a clear tipping point to reverse sales declines. More importantly, management has not yet been able to articulate a clear strategy to stem market shares losses and revitalize sales. We applaud the company for recognizing the severity of the problem and hiring a CMO, but we think the coming years will be a slow road and that expectations have not fully adjusted to that reality."
Shares of Boston Beer Company closed at $164.50 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
- UPDATE: SunTrust Robinson Humphrey Downgrades Simon Property Group (SPG) to Hold
- Drexel Hamilton Reiterates Buy on IBM (IBM) Following 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!