Jefferies Starts Boston Beer Company (SAM) at Buy, Sees 24% Upside

Jefferies initiates coverage on Boston Beer Company (NYSE: SAM) with a Buy rating and a price target of $362, citing a long runway for the strong secular growth story.

Analyst Kevin Grundy commented, "We are initiating coverage of SAM with a Buy and $362 PT (24% potential upside). While the number of new entrants and "push" from big brewers present risks, SAM remains one of the best secular growth stories in staples as the industry leader in the fast-growing craft beer and cider categories. SAM's CY15e 17.3x EV/EBITDA multiple compares favorably to peers on a multiple/EBITDA growth basis (0.8x vs. peers 1.6-2.4x) supporting our constructive view."

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 $291.66 yesterday.

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