RBC Capital initiated coverage of Dutch Bros (BROS) with an Outperform rating and $83 price target Dutch Bros has a “unique brand” and business model in the coffee space that resonates with Gen Z consumers, the analyst tells investors in a research note. The firm says the company has multiple sales catalysts that could drive upside to its low-single-digits same-store-sales target over at least the next couple years. Further, Dutch Bros is still in relatively early stages of a national expansion with unit growth opportunity in new and existing markets that should support a mid-teens growth rate for the foreseeable future, contends RBC.
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