Boston Beer price target lowered to $250 from $275 at Evercore ISI

Evercore ISI lowered the firm’s price target on Boston Beer (SAM) to $250 from $275 and keeps an In Line rating on the shares. Q2 performance was “better-than-feared,” with sales aligning with expectations and EPS surpassing forecasts as the company achieved “notable” gross margin improvement, driven by brewery efficiencies and strategic pricing, the analyst tells investors. The “battleground” for Boston Beer remains its ability to navigate macroeconomic pressures and revitalize core brands like Twisted Tea and Truly in the face of evolving consumer preferences, the analyst added.