USA: Boston Beer initiated with "neutral" by Banc of America

Analyst Bryan Spillane of Banc of America Securities initiates coverage of The Boston Beer Company with a "neutral" rating, the Banc of America posted on November 2. The target price is set to $25.

In a research note published yesterday, the analyst mentions that the company’s risk/reward is balanced. The analyst expects Boston Beer to generate 12% earnings growth in 2006, driven by potential stock buybacks, exposure to the super-premium beer segment and recent capacity expansion.

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