Samuel Adams Parent Surprises Wall Street With Record Rise
- Cider and tea brands have fueled growth, not Samuel Adams beer
- Stock has no buy ratings ahead of Thursday’s earnings report
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Boston Beer Co.’s turnaround appears to have taken Wall Street by surprise.
The craft brewer’s shares have quietly surged 71 percent this year amid strength in newer beverage categories such as cider and tea. Analysts have been slow to catch up to the rally, with the gap between the average target price and the current price widening to 27 percent. The stock set a new record high Wednesday, just 13 months after it traded at a five-year low.