Stifel analyst Chris O’Cull lowered the firm’s price target on Dutch Bros (BROS) to $82 from $85 and keeps a Buy rating on the shares after the company reported better-than-expected Q1 revenue, AEBITDA, and EPS and indicated it was trending toward the top half of the 2025 guided range. The firm, which recommends Dutch Bros because it has several idiosyncratic sales drivers to help offset a soft consumer spending environment, argues that emerging brands with sales momentum, like Dutch Bros and Cava (CAVA), tend to outperform during downturns.