Boston Beer rises sharply after results, levels to watch The shares are up over 5.2% to $243.59, off the earlier high at $247.02 which is just below the life high and is now resistance. Support is at $240.37.
Boston Beer price target raised to $280 form $250 at Cowen Cowen raised its price target on Boston Beer to $280 from $250 following the company's Q3 results. The firm believes company guidance is conservative given the business momentum and reiterates its Outperform rating on Boston Beer shares.
Boston Beer reports Q3 EPS $2.79, consensus $2.32 Reports Q3 revenue $269.7M, consensus $258.57M. Depletions grew 21% and 25% from the comparable 13 and 39 week periods in the prior year. Core shipment volume was approximately 1.2M barrels, a 23% increase over last year.