Oppenheimer Starts SodaStream At Outperform (SODA)

Oppenheimer this morning initiated coverage on SodaStream (NASDAQ: SODA) with an "Outperform" rating and a price target of $40.

The firm believes SODA's position as the leader in the growing home beverage carbonation market, with an attractive "razor-razorblade" model, should offer significant growth opportunities in the coming years.

Oppenheimer believes the growth opportunities in the U.S. for SODA are particularly strong because its products remain relatively unknown and the U.S. is the largest consumer of carbonated beverages.

Shares of SODA are higher in pre-market trading by $1.25, or 3.9%, to $33.75. Since the company went public in early November, shares have traded between $23.15 and $43.88.