© Reuters 3 Beer Stocks Wall Street Predicts Will Rally by 20% or More
Even though beer consumption dipped last year, the reopening of restaurants this year and growing demand for new brews have been helping beer companies regain their fizz and generate rising sales. So, Wall Street analysts expect established beer stocks Anheuser-Busch (BUD), Molson Coors (NYSE:), and The Boston Beer (NYSE:) to garner solid upside in the coming months. So, cheers! And please read on for details on these names.
Last year, the alcoholic beverage industry suffered a setback due to COVID-19 pandemic-led restrictions. Retail beer sales dipped, with several stadiums, concert venues, bars, and restaurants remaining closed. According to the Brewers Association, overall U.S. beer volume sales were down 3% in 2020.
However, as restaurants and bars continue to reopen, with several restrictions to limit the spread of the deadly COVID-19 virus, the demand for beer is going up this year. And, according to a Business Wire report, the global beer market is expected to reach $710.89 billion by 2025.
So, we think it could be wise to add beer stocks Anheuser-Busch InBev SA/NV (BUD), Molson Coors Beverage Company (TAP), and The Boston Beer Company, Inc. (SAM) to one’s watchlist. Wall Street analysts expect these stocks to rally by 20% or more in the near term.
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