Boston Beer price target lowered to $230 from $270 at Bernstein

Bernstein lowered the firm’s price target on Boston Beer (SAM) to $230 from $270 and keeps a Market Perform rating on the shares. The firm notes that the structural vs. cyclical debate rages on. Consumers have continued to feel macro pressure and uncertainty, spreading to some other consumer sectors. Liberation Day and tariff uncertainty have continued to act as overhangs for many names, says Bernstein. While there have been some bright spots, the firm believes 2025 has been the year of “Everything Everywhere All at Once” for the industry.