BRCC - BRC slides after Raymond James runs to the sidelines due to valuation

Raymond James lowered BRC Inc. (BRCC -14.9%) to a Market Perform rating after having it locked in at Outperform. The firm warned that valuation looks in line with the growth trajectory. Analyst Joseph Altobello called BRCC an attractive growth story within the consumer space, with a number of significant growth opportunities as it evolves from a coffee company to a true lifestyle brand. However, it was noted that valuation relative to other fast-growing food, beverage and DTC lifestyle companies appears to be fair at best. The suggestion is that investors look for a more attractive entry point. "Simply put, the shares have performed very well of late, having appreciated 52% in just the past month – including 29% on Monday alone. We know of no fundamental reason to explain the sharp move higher, and as such, we believe a neutral stance is justified at this point." BRCC fell to as

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BRC slides after Raymond James runs to the sidelines due to valuation