Stifel analyst Chris O’Cull upgraded Dutch Bros to Buy from Hold with a price target of $35, up from $32. The analyst believes the company is “poised to make meaningful progress” on several fronts under Christine Barone’s leadership. The firm is encouraged the company is proactively transitioning to the next phase of leaders, all with significant experience to support Dutch Bros in achieving its growth targets. Stifel says the company has changed its go-to-market strategy with a new development approach and more paid advertising.
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