Boston Beer Stock Downgraded Amid Disappointing Earnings Report

Boston Beer Company's stock price has taken a hit after analysts at Royal Bank of Canada lowered their price target from $234.00 to $210.00 in a recent research note.

This move indicates a potential upside of 18.07% from the stock's previous close, but it also suggests that investors may be losing confidence in the company's performance.

The analysts at Royal Bank of Canada currently have a 'sector perform' rating on Boston Beer, which is neither particularly bullish nor bearish.

Other research firms have also weighed in on the stock, with some downgrading their ratings and lowering their price targets. For example, UBS Group lowered its price objective from $245.00 to $190.00, while Citigroup reduced its target from $240.00 to $195.00.