0814 ET - Citi upgrades Boston Beer to buy from neutral, saying it sees a clearer path towards volume/topline growth amid better-than-expected recent depletions and the upcoming national launch of Sun Cruiser hard iced tea ahead of the peak summer selling season. Citi's Filippo Falorni and Jonmichael Shekian say they see a return to roughly 1% depletions growth for Boston Beer this year, even with moderating Twisted Tea growth, improving Truly hard seltzer trends and the contribution from Sun Cruiser. Citi's target price on Boston Beer goes to $280 from $265. Boston Beer up 3.3% premarket to $226.50. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 08:14 ET (12:14 GMT)
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