Boston Beer Company Gets A Spicy Buy Upgrade From Analyst Amid Other Beer Brands - Read Why
Boston Beer Company Gets A Spicy Buy Upgrade From Analyst Amid Other Beer Brands - Read Why
Jefferies analyst Kaumil Gajrawala upgraded Boston Beer Company, Inc (NYSE:SAM) to Buy from Hold, raising the price forecast to $360 from $335.
傑富瑞分析師考米爾·加傑拉瓦拉將波士頓啤酒公司（紐約證券交易所代碼：SAM）上調至持有買入，將預期價格從335美元上調至360美元。
Boston Beer has gone through several boom-bust cycles, but over time, value was created with higher highs and higher lows, the analyst writes.
這位分析師寫道，波士頓啤酒經歷了幾個繁榮與蕭條的週期，但隨着時間的推移，價值是以更高的高點和更高的低點創造的。
The company's beer and cider brands continue to decline, in line with the category. Collectively these brands are ~28%, Gajrawala notes.
該公司的啤酒和蘋果酒品牌繼續下降，與該類別持平。加傑拉瓦拉指出，這些品牌的總比例約爲28％。
However, reduced SKU complexity and refocused marketing could stabilize the business as category trends moderate. Given their relative size to Twisted/Truly, their headwinds should have minimal effect on total company trends going forward.
但是，隨着品類趨勢的放緩，降低SKU複雜性和重新調整營銷重點可以穩定業務。考慮到它們與Twisted/Truly的相對規模，他們的不利因素對公司未來整體趨勢的影響應該微乎其微。
In addition, easing supply chain costs, higher in-house production, and efficiency measures support gross margin returning to normalized levels (high 40s %) over the medium term.
此外，供應鏈成本的緩解、內部生產的提高和效率措施支持毛利率在中期內恢復到正常水平（40％的最高水平）。
A clean balance sheet (no debt) and record cash levels increase the potential for capital returns if new initiatives do not gain traction, according to the analyst.
分析師表示，如果新舉措得不到關注，乾淨的資產負債表（無債務）和創紀錄的現金水平將增加獲得資本回報的可能性。
Per Gajrawala, with Truly trends stabilizing and Twisted continuing its recent growth trends, the company should return to volume growth for the first time since 2021.
根據Gajrawala的說法，隨着Truly趨勢趨於穩定，Twisted延續其最近的增長趨勢，該公司將自2021年以來首次恢復銷量增長。
Overall, the analyst raised the company's full-year 2024 sales/EBITDA outlook by +1% and +3%, respectively.
總體而言，該分析師將公司2024年全年銷售額/息稅折舊攤銷前利潤展望分別提高了1％和+3％。
The analyst applauds the company's margin outlook and multiple expansions on return to volume growth and decreased volatility.
這位分析師對該公司的利潤前景以及銷量恢復增長和波動性降低後的多次擴張表示讚賞。
According to Benzinga Pro, SAM stock has lost 9% in the past year.
根據Benzinga Pro的數據，SAM的股票在過去一年中下跌了9％。
Gajrawala reiterated the Buy rating on Constellation Brands, Inc. (NYSE:STZ), lowering the price target to $311 from $314.
加傑拉瓦拉重申了對Constellation Brands, Inc.（紐約證券交易所代碼：STZ）的買入評級，將目標股價從314美元下調至311美元。
The analyst lowered the first quarter and FY25 sales outlook by -1% and <-1% and EBITDA by -3% and -1%, respectively, given recent weakness. However, distributors remain bullish on Constellation. The analyst's survey supports ~7%-9% org sales growth in their beer business.
鑑於最近的疲軟，該分析師將第一季度和25財年的銷售前景分別下調了-1％和
Gajrawala reiterated Hold rating on Molson Coors Beverage Company (NYSE:TAP), with forecast of $62.00.
加傑拉瓦拉重申了對莫爾森庫爾斯飲料公司（紐約證券交易所代碼：TAP）的持有評級，預測爲62.00美元。
The analyst lowered CY24 sales <-1% and EBITDA by -1%, given confirmed lower space gains, ABI momentum, and margin deleverage.
鑑於空間增幅放緩、ABI勢頭和利潤去槓桿化，該分析師將24財年的銷售額下調了
Price Action: TAP shares are trading lower by 1.45% to $57.89 at last check Tuesday, while STZ shares are trading lower by 2.2% to $253.07 and SAM shares are trading higher by 0.29% to $284.64.
價格走勢：週二最後一次檢查時，TAP股價下跌1.45％，至57.89美元，而STZ股價下跌2.2％，至253.07美元，SAM股價上漲0.29％，至284.64美元。
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