Boston Beer Company (SAM) PT Raised to $151 at Jefferies

Jefferies analyst Kevin Grundy bumped his price target on Boston Beer Company (NYSE: SAM) to $151.00 (from $145.00) following results by maintained a Hold rating.

Grundy commented, "SAM's 2Q EPS of $2.06 came in ahead of $1.91 Street est. as both revs (+2.6%) and OI margins (+70 bps) beat expectations. However, with the environment still fiercely competitive in crafts, SAM lowered its depletions guide (6th time in 7 qtrs) to -4%-0% (vs. -4-+2%) with little visibility given -4% decline YTD. Revised EPS guide of $6.40-$7.00 is in line with $6.70 Street est. Edging up PT to $151, though we remain on the sidelines."

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 $164.74 yesterday.

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