Truly Not Good: The Boston Beer Company (SAM) Sinks After Withdrawing 2021 Guidance on Hard Seltzer Demand Trend Uncertainties
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Boston Beer Company (SAM) PT Lowered to $564 at Citi
September 9, 2021 6:53 AM EDTCiti analyst Wendy Nicholson lowered the price target on Boston Beer Company (NYSE: SAM) to $564.00 (from $618.00) while maintaining a Neutral rating.
... More'Truly a Disaster': Boston Beer Company (SAM) Plummets 10% After Removing 2021 Guidance, Analysts Slash Price Targets Sharply
September 9, 2021 6:31 AM EDTShares of the Boston Beer Company (NYSE: SAM) are down about 10% in pre-open Thursday after the company withdrew its full-year 2021 guidance.
SAM noted a continued deceleration of growth trends in the hard seltzer market.
Industry reports have estimated that the full year 2021 volume for the hard seltzer market retail sales will have over 100 million fewer cases than the volumes estimated in May 2021 and over 30 million fewer cases than the volumes estimated in July 2021. While demand for the Company's hard seltzer products continues to grow at faster than category rates in measured off-premise... More
Boston Beer Co. (SAM) is withdrawing its 2021 financial guidance
September 8, 2021 4:17 PM EDTSince The Boston Beer Company, Inc.'s (the "Company's") (NYSE: SAM) last guidance update for fiscal year 2021 financial performance, the market for hard seltzer products has continued to experience decelerating growth trends. Industry reports have estimated that the full year 2021 volume for the hard seltzer market retail sales will have over... More
