Boston Beer price target lowered to $375 from $400 at Credit Suisse

Credit Suisse analyst Kaumil Gajrawala lowered the firm’s price target on Boston Beer to $375 from $400 and keeps an Outperform rating on the shares. The firm acknowledges the Q4 revenue beat but notes year-to-date trends and 2023 guidance are weak. Earnings should continue to recover in 2023 but a return to run-rate profitability requires stability, Credit Suisse says, adding that these targets may be a few years away.