Boston Beer stock rallies after Susquehanna cheers ‘successful innovation’ in cider, seltzer
Shares of Boston Beer Co. Inc. are up 1.8% in midday trading Friday after Susquehanna Financial Group analyst Pablo Zuanic raised his price target on the stock to $305 from $221. “Yes, we are chasing the rally here, but in all fairness the very successful innovation around hard cider, hard seltzer, the new Sam’76 (a more approachable craft beer), and sustained 20% plus growth in hard tea, has caught even management by surprise, if we go by guidance and apparent stock outs,” Zuanic wrote. He has a neutral rating on the stock and asked, in reference to Anheuser Busch Inbev NV and Molson Coors Brewing Co. : “Why can’t BUD and TAP innovate like this?” Shares are up 117% over the past 12 months, while the S&P 500 has gained 14%.