Evercore ISI lowered the firm’s price target on Boston Beer to $310 from $340 and keeps an In Line rating on the shares. The stock is down over 15% year-to-date and has traded below $300 since early March, which the firm blames on disappointing Q4 results and concerning year-to-date trends in scanner data for Twisted Tea. Heading into Q1, historically a lower volume quarter for U.S. beer, the firm expects investors to focus on Twisted Tea and Truly, the analyst tells investors in a preview note.
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