Dutch Bros Raises Price Target to $85 as FY26 Revenue Seen at $2.00–2.03B
Morgan Stanley raised its price objective for Dutch Bros to $85 from $82 and retained an Overweight rating. Dutch Bros forecasts FY26 revenue of $2.00–2.03 billion versus a $2.04 billion consensus, 3%–5% same-store sales growth, $355–365 million EBITDA, $270–290 million capex and 181 new shops.
1. Analyst Rating Updates
On February 13, Morgan Stanley raised its price objective for Dutch Bros to $85 from $82 and retained an Overweight rating. RBC Capital trimmed its target to $75 from $80 with an Outperform rating, while Citi lowered its to $81 and maintained a Buy call.
2. FY26 Financial Guidance
Dutch Bros projects FY26 revenue of $2.00 billion to $2.03 billion against a $2.04 billion consensus, anticipates 3%–5% same-store sales growth and forecasts $355 million to $365 million in adjusted EBITDA on higher coffee costs offset by SG&A leverage.
3. Expansion Plans
The company plans capital expenditures of $270 million to $290 million and aims to open at least 181 new system shops, combining company-operated and franchised locations to drive market penetration.