UPDATE: Goldman Sachs Upgrades Boston Beer Company on Near-Term Volume Upside Potential
In a report published on Wednesday, Goldman Sachs analyst Judy E. Hong upgraded Boston Beer Company (NYSE: SAM) from Sell to Neutral and increased the price target on the company from $141 to $162.
In the report, Goldman Sachs stated, "Over the last 12 months, SAM is up 45% vs. S&P 500 24%. We are raising our EPS 3-4% due to a higher volume growth outlook primarily driven by Angry Orchard momentum and near-term upside risk to the Samuel Adams brand."
Boston Beer Company closed on Tuesday at $156.49.
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