Dutch Bros price target raised to $53 from $42 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Dutch Bros (BROS) to $53 from $42 and keeps a Buy rating on the shares. The firm raised long-term estimates as it believes initiatives such as increased paid advertising, mobile order and pay, food platform, and other product innovations should help Dutch Bros maintain momentum and drive traffic, the analyst tells investors.