More Mike’s: $4 Bill in Revenues Next Year; No Debt; Sourcing More From Wine than Spirits

Dear Client:  Mike's Hard is targeting close to $2 billion in revenue this year, "on track to grow 85%," after having accelerated each year for almost a decade.  But the real shocker is that they're targeting twice that next year,  to $4 billion in 2020 "driven by increased capacity, household penetration, distribution and velocity growth," per a recent Evercore ISI note.  "White Claw now a top 15 beer brand nationally on annualized basis," they wrote earlier this week. In its