Boston Beer Stock Hits 6-Year Lows on Downgrade

Boston Beer Company Inc (NYSE:SAM) was last seen down 2.5% at $243.98, trading at six-year lows following a bear note from Piper Sandler. The firm downgraded the security to "neutral" from "overweight," with a price-target cut to $275 from $370, after a disappointing rollout of its new product Hard Mountain Dew. Piper Sandler is joining the bearish majority, as now only one of the 15 analysts in coverage carries a "buy" rating. The 12-month consensus price target of $298.69 represents a 22.4% premium to cur ...