On Nov 08, major Wall Street analysts update their ratings for $Dutch Bros (BROS.US)$, with price targets ranging from $42 to $55.
J.P. Morgan analyst John Ivankoe maintains with a buy rating, and adjusts the target price from $44 to $48.
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.
Jefferies analyst Andy Barish maintains with a buy rating, and maintains the target price at $45.
TD Cowen analyst Andrew Charles maintains with a buy rating, and maintains the target price at $53.
Furthermore, according to the comprehensive report, the opinions of $Dutch Bros (BROS.US)$'s main analysts recently are as follows:
The company's Q3 outcomes, along with optimistic observations, underscored robust transaction trends in same-store-sales, enduring margin potency, and an uplifted 2024 outlook that surpassed forecasts. The acceleration in transaction growth and strides in key initiatives are seen as positive developments.
The company's third-quarter same-store sales growth is particularly remarkable as it included positive traffic growth in a period where the industry experienced softer demand. The forecast for the fourth quarter, which predicts 1%-2% growth in same-store sales, seems to incorporate a conservative stance, considering the ongoing adoption of mobile orders and pay, along with a rise in paid advertising.
The firm expressed satisfaction with the third quarter's adjusted EBITDA that met the high end of investor expectations, driven by same store sales. Additionally, clear guidance for the fourth quarter same store sales surpassed investor expectations.
The firm expressed encouragement following the Q3 report from Dutch Bros, which showcased a performance exceeding expectations in both revenue and earnings, coupled with a promising rise in the 2024 guidance. This also included a Q4 comps/traffic outlook that was more favorable than anticipated.
Here are the latest investment ratings and price targets for $Dutch Bros (BROS.US)$ from 7 analysts:
Note:
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