Conversely, Morgan Stanley reduced their price target for Boston Beer from $270.00 to $260.00 in an April 28th report. Despite its recent challenges, there are analysts who remain optimistic about Boston Beer’s future potential in the market sector it operates in. Data from Bloomberg.com shows that Boston Beer currently has a consensus rating of “Hold” with an average target price sitting at $308.69. Interestingly, institutional investors have recently made alterations in their holdings of The Boston Beer Company. These modifications made by institutional investors are significant as they collectively own 65.46% of The Boston Beer Company’s stock.

Source: Wall Street Journal July 25, 2023 06:07 UTC