Boston Beer price target lowered to $355 from $390 at UBS

UBS lowered the firm’s price target on Boston Beer to $355 from $390 and keeps a Neutral rating on the shares. Boston Beer’s Q4 net loss was well below expectations as the company fell short across most major key metrics, the analyst tells investors in a research note. While the miss on volumes was far from an outlier this earnings season, the company also provided a soft initial outlook for 2024 reinforcing concerns around the long-term growth prospects of the business, the firm says.