BRC Inc. price target lowered to $3 from $5 at DA Davidson

DA Davidson lowered the firm’s price target on BRC Inc. (BRCC) to $3 from $5 but keeps a Buy rating on the shares. The company’s Q1 EBITDA guide was particularly weak due to higher coffee prices along with increased market spend, slotting fees, and cycling some favorable transactions, the analyst tells investors in a research note. The positives however include the early state of BRC’s energy drink growth, with the company also still growing its distribution in Walmart (WMT), the firm adds.