Dutch Bros Inc (NYSE: BROS) announced on Monday, November 28; it had hired former Starbucks (NASDAQ: SBUX) executive Christine Barone to serve as the company’s president. The firm said that it hired Barone due to her experience in the coffee and service sectors as well as her digital marketing abilities.
During her five years as a vice president at Starbucks, Barone was responsible for managing a variety of the company’s departments and operations. Dutch Bros’ CEO Joth Ricci stated:
“As we look to the next phase of our brand story, we’re committed to bringing in best-in-class leadership to help us scale and grow.”
It is expected Barone’s hands-on leadership and extensive understanding of the coffee and service sectors will be invaluable as she looks to lead Dutch Bros to its target of 4,000 stores over the next 10 to 15 years.
BROS chart and analysis
Dutch Bros closed at $35.51 −$0.30 (-0.84%) after the final bell on Monday, November 28; however, the stock is up +$1.89 (5.62%) over the past five days. In the last month, BROS has been trading between $29.00 – $38.77 and is currently trading in the middle of this range. Prices have been consolidating lately, and the volatility has been reduced considerably; lower volume has been observed in the last couple of days.
There is very little resistance above the current price, although resistance is observed at $36.43 from a horizontal line in the weekly time frame. Notably, there is an area of support below the current price at $35.5, and a Stop Loss order might be put below this zone.
The short-term technical analysis (TA) for BROS on the 1-day gauges is relatively bullish. In particular, the summary gauge points to a ‘buy’ sentiment at ten while moving averages (MA) also suggest a ‘buy’ at 9.
The oscillators point to ‘neutral’ at nine, according to the data obtained from the market analytics platform TradingView on November 29.
Analysts on BROS stock
On Wall Street, eight analysts have given recommendations for the stock; five recommended a ‘buy,’ and three recommended a ‘hold.’
Based on analyst stock evaluations for Dutch Bros over the last three months, the average price forecast for the next year is $38. Compared to the current price of $35.51, the target indicates a 7.01% upside.
Time will tell if the seasoned professional in the business, who will start in the first quarter of 2023, can assist Dutch Bros in reaching their price objective of $38 within the following year.
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Source: https://finbold.com/dutch-bros-taps-former-starbucks-executive-as-president-whats-next-for-bros-stock/