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.
杰富瑞分析师考米尔·加杰拉瓦拉将波士顿啤酒公司（纽约证券交易所代码：SAM）上调至持有买入，将预期价格从335美元上调至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.
这位分析师写道，波士顿啤酒经历了几个繁荣与萧条的周期，但随着时间的推移，价值是以更高的高点和更高的低点创造的。
The company's beer and cider brands continue to decline, in line with the category. Collectively these brands are ~28%, Gajrawala notes.
该公司的啤酒和苹果酒品牌继续下降，与该类别持平。加杰拉瓦拉指出，这些品牌的总比例约为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，随着品类趋势的放缓，降低SKU复杂性和重新调整营销重点可以稳定业务。考虑到它们与Twisted/Truly的相对规模，他们的不利因素对公司未来整体趋势的影响应该微乎其微。
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，供应链成本的缓解、内部生产的提高和效率措施支持毛利率在中期内恢复到正常水平（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.
分析师表示，如果新举措得不到关注，干净的资产负债表（无债务）和创纪录的现金水平将增加获得资本回报的可能性。
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.
根据Gajrawala的说法，随着Truly趋势趋于稳定，Twisted延续其最近的增长趋势，该公司将自2021年以来首次恢复销量增长。
Overall, the analyst raised the company's full-year 2024 sales/EBITDA outlook by +1% and +3%, respectively.
总体而言，该分析师将公司2024年全年销售额/息税折旧摊销前利润展望分别提高了1％和+3％。
The analyst applauds the company's margin outlook and multiple expansions on return to volume growth and decreased volatility.
这位分析师对该公司的利润前景以及销量恢复增长和波动性降低后的多次扩张表示赞赏。
According to Benzinga Pro, SAM stock has lost 9% in the past year.
根据Benzinga Pro的数据，SAM的股票在过去一年中下跌了9％。
Gajrawala reiterated the Buy rating on Constellation Brands, Inc. (NYSE:STZ), lowering the price target to $311 from $314.
加杰拉瓦拉重申了对Constellation Brands, Inc.（纽约证券交易所代码：STZ）的买入评级，将目标股价从314美元下调至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.
鉴于最近的疲软，该分析师将第一季度和25财年的销售前景分别下调了-1％和
Gajrawala reiterated Hold rating on Molson Coors Beverage Company (NYSE:TAP), with forecast of $62.00.
加杰拉瓦拉重申了对莫尔森库尔斯饮料公司（纽约证券交易所代码：TAP）的持有评级，预测为62.00美元。
The analyst lowered CY24 sales <-1% and EBITDA by -1%, given confirmed lower space gains, ABI momentum, and margin deleverage.
鉴于空间增幅放缓、ABI势头和利润去杠杆化，该分析师将24财年的销售额下调了
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.
价格走势：周二最后一次检查时，TAP股价下跌1.45％，至57.89美元，而STZ股价下跌2.2％，至253.07美元，SAM股价上涨0.29％，至284.64美元。
Photo via Shutterstock
照片来自 Shutterstock
译文内容由第三方软件翻译。