UPDATE: RBC Capital Downgrades Boston Beer Company (SAM) to Sector Perform

July 7, 2022 3:26 AM EDT
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Price: $346.93 +2.88%

Rating Summary:
    7 Buy, 15 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 8
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(Updated - July 7, 2022 3:59 AM EDT)

RBC Capital analyst Nik Modi downgraded Boston Beer Company (NYSE: SAM) from Outperform to Sector Perform with a price target of $331.00 (from $488.00).

The analyst comments "We are upgrading CRNC to Sector Perform from Underperform given 1) near-term expectations (balance of FY22) seem more reasonable as expectations have come down and the new management team may be trying to rebuild credibility, and 2) the stock is trading near our price target (which we have now revised from $28 to $27). We also revise our estimates to reflect our updated production forecast and forward outlook."

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 $306.23 yesterday.

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