SAM - Boston Beer gains after Cowen says comparisons will get easier

Cowen turns more constructive on Boston Beer (NYSE:SAM) with an upgrade to a Market Perform rating from Sell. Analyst Vivien Azer: "Since late August, SAM's share price has compressed, reflecting the negative revisions to company guidance. However, with Nielsen trends starting to show signs of stabilization, we think the lower expectations are now priced into the stock." Azer says while Q1 comparables will be tough for SAM, the remainder of the year will see increasingly easy comparisons in a reflection of the slowdown in hard seltzer. Cowen assigns a price target of $500 to SAM. Shares of SAM are up 1.15% premarket to $465.67. Read Seeking Alpha author Moonshot Equity Analysis' recent breakdown on SAM's valuation.

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Boston Beer gains after Cowen says comparisons will get easier