Boston Beer Falls 6% after UBS Downgrade

Shares of Boston Beer Company SAM are seeing increased weakness during Monday's trading session after the company was downgraded by UBS. UBS Investment Research said in a research note on Monday that it reduced its rating on Boston Beer from Neutral to Sell. The price target on shares was maintained at $103. UBS Investment Research said, "Boston Beer has demonstrated solid topline growth through successful innovations such as Twisted Tea and Seasonals. As these innovations mature, and with Boston Lager flat-to-down, new innovations such as Angry Orchard will need to match their predecessors' impact to maintain revenue growth trends (Innovator's Curse). We examine these dynamics, and conclude that topline trends will slow and thus drive SAM's elevated PE multiple down." Monday, shares of Boston Beer are trading down over 6 percent, at about $116.80 per share.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: NewsDowngradesIntraday UpdateAnalyst RatingsMovers
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!