Black Rock Coffee initiated with an Outperform at Raymond James

Raymond James initiated coverage of Black Rock Coffee (BRCB) with an Outperform rating and $26 price target Near-term comps and EBITDA results should remain strong driven by tangible, company specific initiatives, and new unit performance should continue to strengthen under its new real estate model, supporting confidence in the company’s open-ended long-term unit growth opportunity, the analyst tells investors in a research note. The stock’s recent pullback on broader industry concerns creates an attractive entry point, Raymond James adds.