Jefferies recently upgraded Boston Beer, the company behind famous brands like Samuel Adams and Truly hard seltzer. Analyst Kaumil Gajrawala believes that Boston Beer could see a significant expansion in multiples, particularly in categories such as flavored malt beverages and ready-to-drink cocktails. Gajrawala mentioned that sales in these categories could grow by 4% to 5%, an area where Boston Beer already has a strong presence. In particular, Twisted Tea, a product by Boston Beer, is dominating the rising hard teas sector. With this positive outlook, Gajrawala upgraded Boston Beer from hold to buy and raised the price target to $360 from $335, suggesting a potential 26.8% upside from the previous close.
Deutsche Bank held a maintain rating on Nvidia ahead of its earnings announcement, showcasing confidence in the company’s solid beat-and-raise momentum. Analyst Ross Seymore reiterated the hold rating on Nvidia, with a price target of $850, indicating a slight pullback from the previous close. Despite recognizing Nvidia’s best-in-class technology roadmap and sustained AI fervor among customers, Seymore believes that the current stock valuation may already reflect these factors. The analyst predicts Nvidia to report $24.5 billion in revenue for the quarter, representing an 11% increase from the previous quarter. While Nvidia has shown substantial growth in 2024, there has been a relatively modest increase in stock value over the last month. In contrast, Wells Fargo’s Aaron Rakers is more optimistic about Nvidia, raising the price target to $1,150 from $974, implying a significant upside of over 27%.
JPMorgan recently upgraded Planet Fitness from neutral to overweight, expressing confidence in the gym stock’s potential for a strong rebound. Analyst Rahul Krotthapalli also increased the price target to $78 from $68, indicating a 19% upside from the previous close. The upgrade is primarily driven by the visibility of improved franchise new unit economics, with a significant improvement compared to the pre-Covid era. Krotthapalli highlighted the anticipated increase in white card pricing and the positive outlook on long-term development, including the addition of approximately 190 new stores annually. This upgrade follows mixed first-quarter results from Planet Fitness, where earnings per share exceeded estimates but revenue fell slightly below consensus. Despite a challenging year-to-date performance, with a 10.2% decline, JPMorgan sees potential for a turnaround in Planet Fitness’s stock value.
Overall, these analyst calls and Wall Street chatter provide valuable insights into the market’s views on companies like Nvidia, Boston Beer, and Planet Fitness. Investors and stakeholders should consider the recommendations of analysts like Jefferies, Deutsche Bank, and JPMorgan when making informed decisions in the ever-changing financial landscape.