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Fly News Breaks for February 21, 2019
SAM
Feb 21, 2019 | 08:39 EDT
As previously reported, Macquarie analyst Caroline Levy upgraded Boston Beer to Neutral with a price target of $275, forecasting the company's non-beer portfolio that includes Twisted Tea,Truly and Angry Orchard brands to help contribute to its double-digit revenue growth in 2019. The analyst also expects a 70bps recovery in the company's gross margins once its capital projects "geared towards the growing, health-conscious consumer" come online, forecasting Boston Beer's 3-year average sales and earnings to grow by 9% and 11% respectively.
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