Shaun Currie, CFA
Long/short equity, hedge fund analyst, momentum

Craft Brew Alliance: Earnings Report Supports An Inflection Point

After listening to Craft Brew Alliance's (NASDAQ:BREW) latest earnings call, I wanted to update investors on the story because I came away even more bullish on BREW than I was during my recent write-up on the stock. Sales growth has accelerated and it seems like 2014 will be a year in which the company expands margins and we will start to see the full benefit of the company's numerous initiatives. I am reaffirming my $21 price target on the stock (40% upside) but do believe that there is significant upside to that target in the long run.

Revenue Growth Accelerates

During the quarter, the company saw net sales and branded beer shipments increase 10.7% and 12.5% respectively,...

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