Dutch Bros price target raised to $44 from $40 at JPMorgan

JPMorgan raised the firm’s price target on Dutch Bros to $44 from $40 and keeps an Overweight rating on the shares. The firm rolled over price targets in the restraint group to December 2025. Industry pricing, especially versus grocery, has been a key reason for transaction softness, the analyst tells investors in a research note. The firm says the recent underperformance of the more value oriented, free cash flow-driven valuations should improve from here as many estimates have been de-risked to the current pricing environment and yields now bear appropriate spreads.