The heavy selling pressure might have exhausted for Boston Beer (SAM) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
SAM benefits from strong price realization, innovation and procurement savings.
SAM is well-positioned for long-term growth driven by strong price realization, cost savings and innovation despite challenges in the hard seltzer market.
CNBC's Andrew Ross Sorkin reports on the latest news.
SAM makes amendments to its existing production agreement with Rauch. It updates guidance for 2024.
SAM benefits from strong price realization, innovation and procurement savings.
Boston Beer is poised for growth, driven by brand revival initiatives, cost-saving efforts and innovation, but Truly Seltzer's challenges remain a concern.
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Needham initiated coverage of Boston Beer with a Hold rating and no price target. For the shares to work, the company is going to have to demonstrate the ability to grow volumes and expand margins, the analyst tells investors in a research note. The firm says that while Twisted Tea continues to gain market share and Truly has become a much less meaningful part of the portfolio, Boston Beer's sales growth algorithm is "simply too concentrated around one brand who plays in a category that will continue to see increased competition."
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