SAM - Hard Seltzer strength underpins UBS' bullish view on Boston Beer

UBS lays out a pretty clear case why Boston Beer ([[SAM]] -3.0%) is in a strong position as hard seltzer demand continues to accelerate. Analyst Sean King: "We continue to expect Hard Seltzer sales to grow from $1.6B in 2019 to $8.0B by 2022E (+73% CAGR). This implies Hard Seltzer consumption grows from an estimated ~50M cases in 2019 to ~230M cases in 2022E. Key drivers of our expectations incl: a) continued strength in tracked channels (YTD +178% Y/Y category growth), b) survey findings point to rising category awareness and a substantial increase in regular Hard Seltzer drinkers, c) category expansion with launches behind existing brand equities (Corona, Coors Seltzer, Topo Chico and Michelob Ultra), d) continued capacity expansion for White Claw, Truly and Coors, and e) a steady rise in cannibalization from wine & spirits consumers that demonstrates magnitude of addressable market across alcohol."UBS has a few scenarios for

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Hard Seltzer strength underpins UBS' bullish view on Boston Beer