Boston Beer visibility still low, says RBC Capital

RBC Capital analyst Nik Modi keeps a Sector Perform rating and $300 price target on Boston Beer ahead of its Q1 results. The visibility for the company "remains low" and it may see "material pressure" on shipments, depletions, margins, and earnings, with the quarter also being heavily impacted by the lapping of the launch of Truly Margarita a year ago, the analyst tells investors in a research note. Truly continues to struggle with volumes down more than 30% in IRI in the March quarter and with two-year trends further decelerating, the firm added.