Dutch Bros price target raised to $44 from $39 at UBS

UBS analyst Dennis Geiger raised the firm’s price target on Dutch Bros (BROS) to $44 from $39 and keeps a Buy rating on the shares. The company’s Q3 results and positive commentary highlighted solid same-store-sales transaction trends, continued margin strength, and raised 2024 guidance that beat expectations, the analyst tells investors in a research note. The firm is encouraged by Dutch Bros’ accelerating transaction growth and progress against key initiatives.