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

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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.

Latest Ratings for BREW

DateFirmActionFromTo
Aug 2015CitigroupMaintainsNeutral
May 2015CitigroupMaintainsNeutral
Feb 2015CitigroupMaintainsNeutral

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

 

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