Dutch Bros Stock Has 25% Upside, According to 1 Wall Street Analyst
Dutch Bros (NYSE: BROS) stock is trailing the market this year. While share prices of the expanding drive-thru coffee operator and franchisor have dropped nearly 5% so far in 2024, the S 500 index has gained about 8%.
But analysts from Piper Sandler think that has created a buying opportunity. Research analysts at the firm raised their rating on Dutch Bros from neutral to the equivalent of a buy. It's the first buy rating on Dutch Bros from the firm since it initiated coverage. On Monday, the financial services company also raised its price target on Dutch Bros from $32 per share to $37. That would reflect a gain of 21% on the stock from its current price.
Many investors are well aware of the great returns from in its years of high growth. Investors in Dutch Bros hope it will be an even better growth stock. Dutch Bros certainly has been growing. Revenue jumped more than 30% in 2023. Sales have now nearly doubled in just the past two years.
Source Fool.com
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