Dutch Bros price target raised to $72 from $54 at Guggenheim

Guggenheim raised the firm’s price target on Dutch Bros (BROS) to $72 from $54 and keeps a Buy rating on the shares. Coming out of the company’s inaugural investor day in Phoenix, the firm is e increasing our estimates and price target after the company updated its long-term addressable market view to 7,000 locations, gave a 2029 store count target that implies mid-teens unit growth remains stable for the next five years, and announced quarter-to-date same-store sales of 4.6%, which was modestly above consensus. The firm notes that its 2026 EBITDA forecast is now 6% above consensus.