Stifel Bullish on Dutch Bros After Leadership Changes

Dutch Bros Inc. Upgraded to Buy Rating Following Leadership Changes

Investment firm Stifel has upgraded Dutch Bros Inc. to a Buy rating from a Hold, and has increased the stock’s 12-month price target to $35.00 from $32.00. The decision comes after Dutch Bros announced several leadership changes and a shift in its market strategy. The company named Sumitro Ghosh as its new President of Operations, Jess Elmquist as its Chief People Officer, and Joshua Guenser as its new CFO. These changes highlight a proactive move by Dutch Bros to build a strong team and ensure it achieves its long-term targets. Brian Maxwell has also been appointed as Vice Chairman, reporting to Co-founder and Executive Chairman Trav Boersma.