Think twice before toasting shares of Boston Beer, maker of Truly hard seltzer, warns Goldman Sachs.
Yahoo Finance's Dave Briggs and Emily McCormick look at how beer stocks are performing after Goldman Sachs downgrades Sam Adams, upgrades Coors, and reiterates its 'Buy' rating for Constellation Brands.
Shares of Boston Beer (NYSE: SAM) outperformed the market this week, as the stock gained 11% through Thursday trading compared to a 3.3% rise in the S&P 500, according to data provided by S&P Global Market Intelligence. The main factor driving Boston Beer's shares higher has been the market's broader recovery. Boston Beer has been hit even harder, with shares down 67% in the past full year compared to an 11% drop in the S&P 500 in that time.