Dutch Bros shares fall 15% year-to-date as Piper Sandler lowers its price target amid mixed financial metrics.
Piper Sandler reduced Dutch Bros Inc. (BROS) price target to $59 from $63, maintaining a Neutral rating on the stock. The coffee retailer’s shares have declined 15% year-to-date and 16.9% over the past year despite strong operational performance.
The firm noted that BROS struggled in the market even as the company delivered solid financial results. Dutch Bros continues to expand, opening hundreds of new locations annually, but investor sentiment remains cautious.
No immediate market reaction was specified following the revised price target.