Dutch Bros upgraded to Outperform from Neutral at Baird

Baird analyst David Tarantino upgraded Dutch Bros (BROS) to Outperform from Neutral with a price target of $70, up from $60. The firm is optimistic Dutch Bros “still has plenty of opportunity” to deliver outperformance over the next 6-12 months. It has become more confident in the company’s near-term fundamental setup entering 2025, saying signs of good operating momentum in upcoming quarters can help to bolster investor confidence in Dutch’s longer term growth prospects and support premium valuation metrics on the shares.