Boston Beer price target raised to $330 from $325 at Piper Sandler

Piper Sandler raised the firm’s price target on Boston Beer (SAM) to $330 from $325 and keeps an Overweight rating on the shares following Q3 earnings. Piper noted that the company’s EPS beat was driven by margins, reporting its highest gross margin since 2020. The firm told investors that transition disruptions have been worse than expected, but Hard Mountain Dew sales did also grow in Q3.