Boston Beer Price Target Cut to $190 by Royal Bank of Canada

Boston Beer (NYSE: SAM) saw its price target reduced by Royal Bank of Canada from $210.00 to $190.00 in a report issued on Tuesday. The firm maintained a "sector perform" rating, suggesting a potential upside of 13.55% from the stock's current price.

Other analysts have also weighed in on Boston Beer. Zacks Research upgraded the stock from a "strong sell" to a "hold" rating on September 22nd. Deutsche Bank set a $176.00 price target in late July, while Sanford C. Bernstein reissued a "market perform" rating with a $195.00 target. Goldman Sachs lowered its price objective to $169.00 and assigned a "sell" rating in early July. Citigroup dropped its target to $185.00 and maintained a "neutral" rating.

Analysts' opinions are mixed, with one "buy" rating, nine "hold" ratings, and two "sell" ratings. The consensus rating is "reduce," with a target price of $205.09. Boston Beer's stock opened at $167.33 on Tuesday, with a 50-day moving average of $176.47 and a 200-day moving average of $191.79.

The company reported earnings of $3.65 per share for the last quarter, missing estimates by $1.18. Revenue was $568.34 million, slightly above expectations. Boston Beer has a market capitalization of $1.74 billion and a negative net margin of 3.42%. Institutional investors own 81.13% of the company's stock.