DA Davidson Reiterates Buy Rating on BRC Inc. (BRCC)

DA Davidson analyst Michael Baker reiterated a Buy rating and $7.00 price target on BRC Inc. (NYSE: BRCC).

The analyst commented, "We track monthly spending data from Nielsen IQ to monitor sales and volumes trends for BRCC, which competes in the packaged coffee, concentrates, espresso, and ready-to-drink (RTD) coffee categories. Industry wide packaged coffee sales were down 3.5% in May, a deceleration from down 1.3% in April, while RTD coffee sales were down 5.3%, a deceleration from April’s 4.4% decline. However, BRCC continues to outperform these categories, growing their packaged coffee business at 23.5%, while RTD fell 3.7% in May. Unit volumes are still down y/y for both packaged coffee and RTD, but BRCC is seeing above average volume growth in both categories."

For an analyst ratings summary and ratings history on BRC Inc. click here. For more ratings news on BRC Inc. click here.

Shares of BRC Inc. closed at $5.71 yesterday.

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