Dutch Bros price target raised to $53 from $47 at TD Cowen

TD Cowen analyst Andrew Charles raised the firm’s price target on Dutch Bros (BROS) to $53 from $47 and keeps a Buy rating on the shares. The firm said they are pleased with 3Q’s same store sales driven adj. EBITDA beat that aligned with the high end of investor expectations, with clear 4Q same store sales guidance that exceeded investor expectations.