Deutsche Bank analyst Steve Powers started Boston Beer with a Hold rating and $380 price target. The analyst believes Boston Beer, behind its Twisted Tea and Truly Hard Seltzer brands, as being well positioned to benefit from a "growing and seemingly sustainable" consumer trend towards flavored malt beverages. Further, the analyst, views the recent pullback in the shares as overdone. However, longer term, Powers has reservations about the ability of the Truly brand to stand out against category leader White Claw as well as as well as still-to-come competitive offerings. He also has structural concerns about Boston Beer's namesake beer business.

Citi lowered the firm's price target on Boston Beer to $315 from $350 and keeps a Neutral rating on the shares as part of a Q1 earnings preview for the beverages and household and personal care group. The firm sees another quarter of gross margin upside but believes the market will not reward earnings beats on margins without solid sales and volume trends.