Stifel Nicolaus Raises PT on Peet's Coffee & Tea to $72

Stifel Nicolaus is out with its report today on Peet's Coffee & Tea (NASDAQ: PEET), raising its PT from $60 to $72.

In its report, Stifel Nicolaus writes, "We reiterate our Buy rating and raise our target price to $72 based on shares trading at 34x our 2012 EPS estimate $2.10, as Peet's continues to drive strong double-digit growth in specialty coffee at grocery, leverage strong cost savings and growth initiatives, and continue expansion of both brands."

At the time of posting, shares of PEET were trading at $60.07, down 0.12% from Tuesday's close.