UPDATE: UBS Cuts Boston Beer Company (SAM) to Sell; Trends Are Down or Slowing

July 9, 2012 7:45 AM EDT Send to a Friend
Get Alerts SAM Hot Sheet
Price: $224.39 +0.60%

Rating Summary:
    4 Buy, 6 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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(Updated - July 9, 2012 10:26 AM EDT)

UBS downgraded Boston Beer Company (NYSE: SAM) shares from Neutral to Sell. PT unchanged at $103.

Analyst, Kaumil S. Gajrawala, said, "Boston Beer has demonstrated solid topline growth through successful innovations such as Twisted Tea and Seasonals. As these innovations mature, and with Boston Lager flat-to-down, new innovations such as Angry Orchard will need to match their predecessors’ impact to maintain revenue growth trends (Innovator’s Curse). We examine these dynamics, and conclude that topline trends will slow and thus drive SAM’s elevated PE multiple down."

UBS adjusts FY12 EPS estimate from $4.05 to $4.04, FY13 from $4.48 to $4.43.
For an analyst ratings summary and ratings history on Boston Beer Company click here. For more ratings news on Boston Beer Company click here.

Shares of Boston Beer Company closed at $124.39 Friday.


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