** Shares of Dutch Bros BROS.N rise 8% to $70.70 after Morgan Stanley analysts initiated coverage on the beverage shop chain with an "overweight" rating
** BROS is on track for biggest daily pct gain since Feb. 13, when the Co reported its quarterly results, and highest close since early March
** Since going public in 2021, BROS has grown to become the third largest player in the $60 bln U.S. beverage shop industry with a well-liked brand, straightforward operating model, strong management, and ample development white space, says MS analysts led by Brian Harbour
** "It's a good comp to our existing coverage, and we also think it's an interesting story that has worked its way up the quality curve since IPO, and investors would be well served paying attention to it in the coming years," Harbour says
** MS set BROS PT at $82
** Among the 13 analysts that cover BROS, their median PT is $85.50 and avg rating it "STRONG BUY", per LSEG data
** BROS is up ~35% YTD and has more than doubled since its IPO in Sept 2021
(Reporting by Chibuike Oguh in New York)
((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))
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