BROS - Can Dutch Bros Stock Hit $50 in 2024?
2023-12-12 08:00:00 ET
Unless you live in the western or southern parts of the U.S., you might not have heard of Dutch Bros (NYSE: BROS) . Nonetheless, some investors are quite optimistic about prospects for this chain of drive-thru coffee shops . In fact, its latest financial results beat Wall Street estimates, breathing some life into the struggling shares that are currently down 64% from their peak.
Better days could be ahead. Can this coffee stock -- currently priced at about $27 a share -- hit $50 by the end of 2024? Here's what investors need to know when thinking about what would equate to an 80% gain from today's price.
The reason this business is on the radar is due to its rapid store expansion. A year ago, there were 641 locations in the U.S., a figure that has jumped to 794 now. The leadership team is optimistic that one day, there will be 4,000 open. This is a truly lofty target. And investors are hoping that executives don't let up on the gas pedal.
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Can Dutch Bros Stock Hit $50 in 2024?