Morgan Stanley analyst Brian Harbour lowered the firm’s price target on Dutch Bros (BROS) to $84 from $86 and keeps an Overweight rating on the shares. Q3 comps beat Street estimates as did total revenue, driving a bottom line beat, though margins were lighter at store level given coffee and rent, the analyst tells investors in a research note. The firm added that the company’s performance has been more about strong top-line and controlled G&A, which can continue.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BROS:
- Dutch Bros Inc. Reports Strong Q3 Growth Amid Challenges
- Dutch Bros price target lowered to $84 from $86 at Morgan Stanley
- Positive Trajectory for Dutch Bros Inc: Buy Rating Affirmed Amidst Strong Growth and Expansion Plans
- Dutch Bros price target lowered to $63 from $73 at Piper Sandler
- Dutch Bros Inc’s Strong Q3 Performance and Strategic Initiatives Justify Buy Rating