Shares of Boston Beer (SAM - Get Report) , the maker of Sam Adams beer, Twisted Tea and Angry Orchard cider, lost some of their fizz on Friday after receiving a downgrade from Goldman Sachs and a lower price target.

Boston Beer stock was down more than 3%, or $9.95, at $274 in trading on the New York Stock Exchange after Goldman Sachs analyst Judy Hong downgraded the company to sell from neutral and lowered her 12-month price target for the shares to $245 from $270.

In a research note to clients, Hong pointed to growing competition in the alternative drinks marketplace as well expectations that it is "unlikely to repeat its innovation success again this year" as reasons for lowering her 2019 and 2020 depletions forecasts. Depletions are the total number of cases sold by a distributor to retailers.

Specifically, the analyst pointed to slower growth from the company's Twisted Tea line of hard ice tea malt beverages as well as slower sales from its Angry Orchard Rose cider.

Opening up the 2019 baseball season by cracking open our favorite gameday beer, Sam '76. Cheers to another year as the official beer of the Boston @RedSox #SamAdams #RedSox pic.twitter.com/kAlYWr85u6

— Samuel Adams Beer (@SamuelAdamsBeer) March 28, 2019

The analyst favors Constellation Brands (STZ - Get Report) within her alcoholic beverage coverage. Shares of Constellation Brands were little changed at $190.74 on the New York Stock Exchange. 

Shares of Boston Beer surged last month after the company announced fourth-quarter earnings that surpassed Wall Street expectations, and an increase in depletions to 13% from 11%.