UPDATE: Cowen Downgrades Boston Beer Company (SAM) to Market Perform

January 13, 2021 5:31 AM EST
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Price: $1,004.24 +1.84%

Rating Summary:
    9 Buy, 13 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 11 | New: 50
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(Updated - January 13, 2021 6:11 AM EST)

Cowen analyst Vivien Azer downgraded Boston Beer Company (NYSE: SAM) from Outperform to Market Perform with a price target of $1,000.00 (from $1,250.00).

The analyst comments "We are downgrading SAM to Market Perform with a new PT of $1,000, which reflects a 40x multiple on FY2 EPS and 9% upside to current trading levels. While we were bullish on SAM's relative positioning amid COVID-19, decelerating hard seltzer category growth and an intensifying competitive landscape leave us more cautious on the potential for positive
earnings revisions."

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 $918.65 yesterday.

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