BUZZ-Citigroup cuts PT on Boston Beer, Brown-Forman citing slowing growth trends

Reuters
01-15

** Brokerage Citigroup cuts PT on alcoholic beverage makers Boston Beer and Brown-Forman , citing slowing growth in certain categories

** Cuts SAM's PT to $290 from $335, maintains "neutral" rating

** SAM's revenue growth trajectory remains uncertain, especially with slowing trends in its Twisted Tea brand - brokerage

** Adds expects SAM's overall shipment volumes to be down in Q4 2024 and gross margin to be partially impacted by labor and commodity inflation

** Lowers PT on BFb to $39 from $46 citing slower growth in spirits category and tariff risk on the American whiskey category

** SAM fell about 13% last year, BFb was down about 33%

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))

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