On Nov 07, major Wall Street analysts update their ratings for $Dutch Bros (BROS.US)$, with price targets ranging from $44 to $55.
BofA Securities analyst Sara Senatore maintains with a buy rating, and sets the target price at $51.
UBS analyst Dennis Geiger maintains with a buy rating, and adjusts the target price from $39 to $44.
TD Cowen analyst Andrew Charles maintains with a buy rating, and adjusts the target price from $47 to $53.
Baird analyst David Tarantino maintains with a hold rating, and adjusts the target price from $37 to $46.
Wedbush analyst Nick Setyan maintains with a buy rating, and adjusts the target price from $45 to $55.
Furthermore, according to the comprehensive report, the opinions of $Dutch Bros (BROS.US)$'s main analysts recently are as follows:
The company's third-quarter outcomes, coupled with positive remarks, emphasized robust trends in same-store sales transactions, continued margin strength, and an elevated 2024 outlook that surpassed forecasts. There is encouragement drawn from the company's hastened transaction growth and advancements in pivotal initiatives.
The company's third-quarter growth in same-store sales is particularly remarkable as it included a rise in customer traffic at a time when the industry experienced a general softening in demand. The projection for fourth-quarter same-store sales growth of 1%-2% is viewed as conservative by analysts, taking into account the ongoing increase in mobile orders and payment implementations, along with a rise in paid advertising.
The firm expressed satisfaction with the adjusted EBITDA beat in the third quarter's same store sales, which met the higher end of investor expectations, accompanied by a clear guidance for fourth quarter same store sales that surpassed those expectations.
The firm expressed encouragement following the Q3 report from Dutch Bros, noting the company's performance exceeded expectations on both revenue and earnings. Additionally, the firm highlighted a robust enhancement to the 2024 guidance, which included a Q4 comps/traffic outlook that wasn't as concerning as anticipated.
Here are the latest investment ratings and price targets for $Dutch Bros (BROS.US)$ from 5 analysts:
Note:
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