- Canaccord analyst Bobby Burleson initiated coverage on Winc Inc WBEV with a Buy rating and $14 price target, implying a 75.4% upside.
- Burleson views the company as well-positioned to gain share in the roughly $400 billion U.S. alcohol beverage market, given Winc's unique omnichannel approach that leverages insights from its digitally native platform into the development of wine brands and rapid wholesale expansion.
- He added that Winc is tapping high-growth wine segments with favorable long-term prospects given its subscription customer base that skews younger and a brand portfolio focused on premium price points.
- Price Action: WBEV shares are trading higher by 3.93% at $7.98 on the last check Thursday.
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