UPDATE: Bank Of America Initiates Coverage On Teavana Holdings With Neutral Rating

According to Bank of America, Teavana Holdings TEA coverage is initiated with a Neutral rating. Bank of America said that it is initiating coverage of Teavana Holdings with a Neutral rating. “A premium multiple (40x our 2012 EPS estimate of $0.60 versus peers at 26x) makes upwards estimate revisions the main driver of stock appreciation, in our view.” Teavana Holdings closed on Friday at $23.99.