Boston Beer (NYSE:SAM), brewers of craft beers such as Samuel Adams, were recommended as an “Outperform by William Blair which initiated coverage, due to its presence in the fast-growing craft beer segment.
But Boston Beer shares were down 2% at $150.37 on Wednesday.
Cinema screens group IMAX Corp (NYSE:IMAX) was reiterated an Outperform with a $41.50 price target on Wednesday by brokers at Wedbush.
“IMAX accelerated screen growth should drive solid earnings growth,” Wedbush said in a note.
However, the broker added that solid growth did not mean the company was meeting the broker’s earlier expectations.
“Third quarter was a very strong quarter for premium large format (PLF) films, but it appears that many theater-goers opted for standard 3D and for the lower cost proprietary PLF tickets (e.g., Regal's RPX and Cinemark's XD) than for the more premium IMAX experience in the quarter. We expect Q3 domestic box office at IMAX to be up 16% y-o-y on higher screen count - representing solid growth, but not as outstanding as we had expected earlier in the quarter.”
IMAX shares were up 0.8% at $29.32.
Reynolds American (NYSE:RAI) shares were up 1.3% at $48.28 after broker Jefferies began coverage on the tobacco producer with a "buy" rating, pointing to factors like cost savings and continuing development of vapor-based products.
Meanwhile, Skechers (NYSE:SKX) shares were down 8.6% to $21.23 after broker Morgan Stanley downgraded the footwear maker to "equal-weight" from "overweight," saying consumer tastes in athletic footwear are shifting towards more fashionable offerings and that an adjustment by Skechers in its offerings is leading to slower sales growth.