A Wall Street Analyst Just Named This Restaurant Stock His Top Pick With 50% Upside. Why It Looks Like a Strong Buy.
UBS just named Dutch Bros its top stock in the restaurant space.
A Wall Street Analyst Just Named This Restaurant Stock His Top Pick With 50% Upside. Why It Looks Like a Strong Buy.
Overview
Investment firm UBS recently named Dutch Bros (NYSE: BROS) its top pick in the restaurant sector, with analyst Dennis Geiger placing an $85 price target on the stock. That's more than 50% upside based on the stock's price as of June 4.
Geiger highlighted strong and accelerating traffic trends at the coffee shop operator, driven by menu innovation, increasing mobile orders, and the introduction of hot food items. He also noted that new stores are seeing strong growth, helping support mid-teens unit growth. As such, he believes the company could top expectations this year, especially given that Dutch Bros management tends to issue conservative guidance.
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Details
Source
Originally published at www.fool.com.
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