Boston Beer price target lowered to $210 from $218 at Bernstein

Bernstein analyst Nadine Sarwat lowered the firm’s price target on Boston Beer (SAM) to $210 from $218 and keeps a Market Perform rating on the shares following quarterly results. The firm notes Sun Cruiser is growing strongly and gross margins solidly beat. With that said, Bernstein points out that Boston Beer booked a non-recurring pre-tax litigation expense of about $176M.