Dutch Bros initiated with a Neutral at UBS

UBS initiated coverage of Dutch Bros with a Neutral rating and $28 price target. UBS expects Dutch Bros can generate a growth algorithm of 20%+ revenue growth, comprised of low single digit same-store sales and mid-teens percentage unit expansion, with EBITDA growth of more than 30%, the analyst tells investors in a research note. The robust growth of Dutch Bros is sustainable, the firm contends.