USA: Boston Beer upgraded to "overweight" by Prudential Financial
The Boston Beer Company was upgraded from "neutral weight" to "overweight" by the analyst Jeffrey G Kanter of Prudential Financial. The target price has been raised from $24 to $26, Newratings posted on June 13.
In a research note published on June 10, the analyst mentions that the current valuation of Boston Beer's stock is attractive, given the company's healthy cash reserves. The target price has been raised to reflect Boston Beer’s direct sales channel model, the analyst says. The company is poised to benefit in the near future from a potential increase in beer demand, Prudential Financial adds.
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