Credit Suisse upgrades Boston Beer, says stock can ride Truly hard seltzer momentum to 60% gain

CNBC2021-07-07

The move into seltzer will continue to pay off for Boston Beer and its investors, according to Credit Suisse. Analyst Kaumil Gajrawala upgraded the stock to outperform from neutral, saying in a note ...

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Comments

JavierHuat88
2021-07-07
JavierHuat88
Hold my beer
- Ichua:
  Certainly
whoartthou
2021-07-07
whoartthou
Ok
- ETJF:
  Kk
NepNep
2021-07-07
NepNep
like pls
- whoartthou:
  done
- moneyfreedom:
  Wow
gracetan92
2021-07-07
gracetan92
?

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But excluding declines at share leader White Claw, the category is growing triple digits. Truly contributed +6pp to industry growth of +5pp in May ’21. The brand is closing the gap with White Claw on velocities and share as well,” the note said.\nCredit Suisse also said that the concern about seltzer eating away at Boston Beer’s traditional brands is overblown.\n“There is too much focus on how large seltzer can be as a percentage of US beer. We think that is wrong metric given that 50% of share is gained from wine and spirits. We think seltzer could reach 10% of total beverage alcohol by 2025 (3.5% today), approaching the size of wine,” the note said.\nCredit Suisse hiked its price target to $1,490 per share from $1,304. 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