JPMorgan analyst John Ivankoe raised the firm’s price target on Dutch Bros (BROS) to $58 from $48 and keeps an Overweight rating on the shares after meeting with management. The company’s multi-year comp drivers around new mobile order adoption, the highly likely success of food and broad leverage of the “very successful” Dutch Rewards digital engagement platform all allow for a continued positive view on the shares, the analyst tells investors in a research note.
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