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Canaccord Is Bullish on This Wine Company, Sees Sharp Upside

Canaccord analyst Bobby Burleson initiated coverage on Winc Inc (NYSE: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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Original Article: benzinga.com

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