Market Overview

UPDATE: Citigroup Initiates Craft Brew Alliance at Neutral on Competition, Pricing Concerns

Related BREW
Craft Brew (BREW): Moving Average Crossover Alert - Tale of the Tape
#PreMarket Primer: Friday March 7: Non-Farm Payrolls Will Likely Show Improvement

Citigroup initiated coverage on Craft Brew Alliance (NASDAQ: BREW) with a Neutral rating and a $7 price target.

Citigroup noted, "BREW offers the most concentrated exposure to the craft beer category. However, the company is facing stiff competition, and continues to evolve its pricing and positioning strategy. And while opportunities for operating margin expansion clearly exist, we worry that higher levels of investment may still be needed. With the shares trading at a rich 30.6x our CY14 EPS estimate, we have a $7 target price on the stock."

Craft Brew Alliance closed at $6.59 on Wednesday.

Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (BREW)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free

Benzinga Professional