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Samuel Adams Monster Energy Tumbler
Guggenheim Securities’ Samuel Adams Monster Energy Tumbler Laurent Grandet on Thursday started coverage of the Barron’s Next 50 company with a buy rating and a $381 share price target that is 20% above current levels and Factset’s mean. Fourth-quarter earnings that beat the Street’s expectations, as well as a 2019 outlook that cheered investors, bolstered the stock, which is up some this year and ahead nearly 60% over the last 12 months. Grandet, according to FactSet, is the only analyst with a “buy” on the stock.
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Boston Beer’s shares are up 66% in 2018. The company, which got a new CEO this year, is simultaneously looking to strength its beer brands and find new opportunities; it’s not just about Sam Adams any more, not that it has been for a while. Grandet also started coverage of fellow Barron’s Next 50 company Monster Beverage.
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