Goldman Sachs initiated coverage of Dutch Bros (BROS) with a Neutral rating and $75 price target implying 9% upside. Dutch Bros is a drive-through beverage concept founded in 1992 that serves coffee beverages, energy drinks, and refreshers across 1,000 stores in 18 states, the analyst tells investors in a research note. The firm is “constructive” on the company’s “strong growth and attractive return profile,” buoyed by mobile order and food rollout. However, with the stock up 75% in the last 12 months, Goldman looks for a more favorable entry point.
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