SAM - Boston Beer's Structural Challenges Remain: Morgan Stanley Analyst Anticipates Slower Growth | Benzinga
Morgan Stanley analyst Eric Serotta reiterated an Underweight rating on the shares of Boston Beer Company Inc (NYSE: SAM) and raised the price target from $270 to $285.
Boston Beer reported a third-quarter FY23 revenue of $601.599 million, beating the analyst consensus estimate of $593.67 million. Adjusted EPS of $4.66 beat the estimate of $4.08.
As expected, depletion declines moderated from - 7% in 2Q amid continued robust growth for Twisted Tea and moderately lower declines for Truly Hard Seltzer amid ...