BRC Inc. price target lowered to $10 from $12 at DA Davidson

DA Davidson lowered the firm’s price target on BRC Inc. (BRCC) to $10 from $12 after its Q4 earnings miss and below-consensus guidance but keeps a Buy rating on the shares. The analyst states that the good news in the company’s results is that their new Walmart (WMT) business is progressing very well and they are the #1 branded 12 oz. bagged coffee SKU in the chain after just launching six months ago. The firm also notes BRC’s lowered FY23 guidance but contends that the reasons for the lowered outlook do not seem to have much to do with any signs of weak demand.