Boston Beer Company (SAM) PT Raised to $1,550 at Goldman Sachs on Truly Momentum and Hard Seltzer Advantage
- Tesla lifts Nasdaq to record-high close, S&P 500 dips
- Bitcoin (BTC) Recovers to $34,000 as Analysts Insists Crypto Winter Won't Repeat Again
- Dollar edges higher as Fed debate over inflation continues
- Cathie Wood's ARK Buys ~$77M in Bitcoin-Related Securities Yesterday on Dip
- Microsoft (MSFT) Price Target Raised to 'Street High' $325 at Wedbush as Cloud Story Is Not Slowing Down
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Goldman Sachs analyst Bonnie Herzog raised the price target on Boston Beer Company (NYSE: SAM) to $1,550.00 (from $1,375.00) after the company reported top & bottom line Q1 results that exceeded the analyst's above consensus expectations.
The analyst reiterated a Buy rating, stating "given Truly’s continued momentum & mgmt’s bullish expectations for new product launches such as Truly Extra (launched 3/8) and Truly Punch (launches in May/Q2), mgmt increased its full year guidance as we expected, including shipment/depletion growth of 40-50% (up from 35-45% prior) and EPS of $22.00-$26.00 (vs $20.00-$24.00 prior), implying impressive 2021 EPS growth of +42%-67% (up from +29-55% prior). Given the momentum behind Truly/Twisted Tea, we raise our 2021/22 EPS ests by $1.68/$1.90 to $25.09/$35.00, implying EPS growth of +61.6%/+39.5%. Bottom line, we continue to view SAM’s advantage in hard seltzer – one of the few big growth opportunities in alcoholic beverages".
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs Upgrades Magna Int'l (MGA) to Buy on Attractive Valuation, 'Enabler of New Market Entrants'
- Rockhopper Exploration Plc. (RKH:LN) (RCKHF) PT Raised to GBP0.29 at Canaccord Genuity
- Nippon Yusen Kabushiki Kaisha (9101:JP) (NPNYY) PT Raised to JPY6,300 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesGoldman Sachs
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!