Dutch Bros price target raised to $49 from $44 at BofA

BofA raised the firm’s price target on Dutch Bros (BROS) to $49 from $44 and keeps a Buy rating on the shares. Given the faster pace of growth in the limited-service specialty coffee category than in the broader restaurant industry, as well as the potential for further acceleration as Gen Z increases its coffee consumption, the firm is bullish on both Starbucks (SBUX) and Dutch Bros, the analyst tells investors.