Dutch Bros price target lowered to $35 from $41 at Jefferies

Jefferies lowered the firm’s price target on Dutch Bros to $35 from $41 and keeps a Buy rating on the shares. Valuations in quick service restaurants, or QSR, are down about 10% since July on average, notes the analyst, who sees tougher same-store comparisons ahead and valuations “leaving little room for disappointment,” the analyst tells investors in a Q3 limited service restaurant preview.