Dutch Bros Faces Tangible Same-Store Sales Catalysts That Are Positioned to Remain Powerful, Oppenheimer Says

MT Newswires Live06-30

Dutch Bros (BROS) faces tangible same-store sales catalysts that are positioned to remain powerful, with current consensus margin forecasts appearing to be conservatively modeled, Oppenheimer said in a Tuesday note.

Oppenheimer said it continues to have an upside bias to Wall Street's 2026 same-store sales estimate of 5.7%, noting the company's food roll-out all company units accelerating in Q3, as well as the new Myst platform launched in May.

The company's 2027 coffee costs would be down 20% if current prices hold, Oppenheimer said, adding that this, along with more moderate food, rent headwinds positions 2027 margins for upside compared with Wall Street's estimate.

Oppenheimer raised its 2026 to 2028 earnings before interest, taxes, depreciation, and amortization estimates to $378.8 million, $479.8 million, and $594.7 million from $375.5 million, $470.5 million and $582.2 million, respectively.

Oppenheimer raised its price target to $82 from $72 and reiterated its outperform rating.

Price: 72.40, Change: +0.70, Percent Change: +0.98

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