The time may have finally come for small-cap stocks to have their moment in the sun, according to Jefferies. So far, large-cap technology stocks have largely led the market's moves to new heights. Nvidia , Wall Street's poster child of the artificial intelligence-propelled rally, has soared 110% this year and ended Thursday 9% higher after posting a blockbuster earnings report for its fiscal first quarter.
"Truly has started to stabilize which has been the main overhang on the stock's multiple for years. Twisted Tea, now the company's largest brand by volume, will likely continue its double-digit growth momentum, allowing the company to return to volume growth for the first time since 2021," Jefferies wrote. The bank's $360 price target implies that shares of Boston Beer could rally nearly 35% from their Thursday closing price.