Citigroup cuts PT on Boston Beer, Brown-Forman citing slowing growth trends

Boston Beer

15/01/2025 12:17

** Brokerage Citigroup cuts PT on alcoholic beverage makers
Boston Beer  SAM.N  and Brown-Forman  BFb.N , citing slowing
growth in certain categories
    ** Cuts SAM's PT to $290 from $335, maintains "neutral"
rating
    ** SAM's revenue growth trajectory remains uncertain,
especially with slowing trends in its Twisted Tea brand -
brokerage
    ** Adds expects SAM's overall shipment volumes to be down in
Q4 2024 and gross margin to be partially impacted by labor and
commodity inflation
    ** Lowers PT on BFb to $39 from $46 citing slower growth in
spirits category and tariff risk on the American whiskey
category
    ** SAM fell about 13% last year, BFb was down about 33% 

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))