In This Article:
Boston Beer Company (SAM) receives an upgrade to Buy from Neutral from Citi analysts, who also raised their price target on the beer maker to $280 per share.
Julie Hyman and Josh Schafer break down the analyst commentary surrounding the Sam Adams parent company.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
Now let's get to a call of the day. City is upgrading Boston Beer from neutral to buy. The note highlighting a clearer path ahead after volatile marketing campaigns for its different brands. And today I learned that there is something called Sun Cruiser. Um, Mr. Schaefer has educated me. I'm not a big drinker for the audience, but I have Sun Cruiser is a canned cocktail that's been doing well for them. Course.
Yeah, it's. Yeah. It's like Arnold Palmer in a can, right? It's iced tea with vodka and it's mixed and it's a ready to drink cocktail. And I think what we were talking about earlier, Julia, was I was talking about the whole Truly story with Boston Beer company, right? When you zoom out on this stock and look at a five year Boston Beer company stock, it used to be $1,000 a share. And it's come way down. And why did the stock come down? Because they tried to get out of beer, I should say grow out of beer into other products before Truly was doing really well, those hard shelters, like a White Claw. And then High Noons came around and ready to drink cocktails came around and Boston Beer didn't really have that product. It seems like Sun Cruiser is maybe that product for them right now. It will be interesting to see sort of how it grows, right? Because I think the hard part of this industry is it felt like White Claws and Truly's were the new beer for, I don't know, two summers.
Yeah.
And then all of a sudden they just disappear and everyone drinks High Noons instead. And then now there's Sun Cruisers and there's Surfside.
What's next?
There's all these different drinks, truly. I don't know. If we had that answer, we'd be making them.
I guess we would, wouldn't we? Yeah, good question.
We're going to find out. Truly we're going to Yes, I will do some market research and we'll do some taste tests. How about that?
I'm sure you'll be doing a lot of market research this summer.
Okay. I like it.