UBS analyst Dennis Geiger reiterated a Buy rating and $85.00 price target on Dutch Bros Inc. (NYSE: BROS).

The analyst commented, "We recently attended a Dutch Bros analyst event at headquarters in Tempe, AZ, with opportunities to speak with key members of the company's leadership team and sample all the new food and some beverage items. We came away impressed with the quality of the management team, the tasty new menu items (incl the breakfast sliders and wrap which were worthy of seconds), and the sustainability of BROS' long-term growth potential. BROS' unique brand positioning should drive sustained sales outperformance, with traction on strategic plans to support ongoing market share gains and solid sss over the coming years. BROS remains our top pick and we expect traffic momentum, the food rollout, and EBITDA upside potential should support gains for shares from attractive valuation levels (~26x '26 Cons. EV/EBITDA vs ~32x 3-yr avg). We expect a minimal impact from MCD's upcoming energy beverage launch (we anticipate August) to remove an overhang and represent a catalyst for BROS shares."

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Shares of Dutch Bros Inc. closed at $52.77 yesterday.