Dutch Bros (BROS) shares rose over 5% on Friday. Investment firm Stephens & Co. initiated coverage on the coffee chain. Analyst Jim Salera assigned an "Overweight" rating. He set an $80 price target. The stock's previous closing price was $65.35.
The positive analyst rating boosted Dutch Bros' stock. Broader market indices traded significantly lower on the day. The initiation reflects confidence in the company's growth trajectory and business model. Dutch Bros continues to expand its market presence. Analysts hold a consensus "Moderate Buy" rating for the stock.