Boston Beer price target raised to $285 from $280 at Citi

Citi raised the firm’s price target on Boston Beer to $285 from $280 and keeps a Buy rating on the shares as part of a Q1 earnings preview for the beverages and household and personal care group. The firm sees a “difficult setup” for the sector into Q1 with soft commentary intra-quarter on U.S., Europe, and emerging markets, many second half-weighted guidance ranges, and tariff risk. Citi continues to prefer “names with visibility on near-term trends and with more idiosyncratic opportunities.” In the earnings reports, the firm is positive on Keurig Dr Pepper (KDP), Boston Beer (SAM), and Church & Dwight (CHD), and cautious on Procter & Gamble (PG), Colgate-Palmolive (CL), and Coca-Cola (KO).