Buy Boston Beer (SAM): Debt-Free, Cash-Generative Brewer with Upside to $260
<p>Boston Beer (SAM) trades at a sensible multiple relative to its free cash flow and carries zero debt, giving management optionality to return capital or reinvest behind growth. Recent new-product momentum from Dogfish Head and improving margins combined with $215.6M in trailing free cash flow support a case for upside to $260 over the next 180 t…