Brokerages cut PT on BRC Inc as operational issues weigh on forecast

BRC

11/11/2022 18:45

** Shares of coffee maker BRC Inc.  BRCC.N  slip ~4% to
$6.78, as at least four brokerages cut PT on lower Q4 sales
forecast
    ** TAG cuts PT to $12 from $18; remains 'outperform' on co 
    ** Says co's faulty equipment affected transition to full
production for ready-to-drink products, affecting Q3 sales and
Q4 rev forecast
    ** "The company faced delays in the delivery of raw
material, which impacted the RTD production from August to
November" - TAG
    ** Says co's introduction of new products such as bagged
coffee and new flavours in the ready-to-drink section should
drive multi-year sales growth
    ** Truist cut PT to $10 from $12; maintains 'hold' rating 
    ** Brokerage cuts PT on Q4 forecast cut to the $90 mln to
$95 mln range 
    ** D. A. Davidson and Deutsche Bank also cut PTs for co
    ** Co on Thursday reported a lower-than-expected Q3 sales
of$75.5 mln - Refinitiv IBES
    ** YTD, the stock is down ~33%, including session moves 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))