Piper Jaffray Maintains Neutral on Peet's Coffee & Tea
Piper Jaffray is out with its report today on Peet's Coffee & Tea (NASDAQ: PEET), maintaining Neutral.
In its report, Piper Jaffray writes, "We are reiterating our estimates for PEET following our recent meeting with management. We continue to recognize the company's strong brand equity and unique direct-store-delivery as key points of differentiation in what we see as a general resurgence of interest in the publicly traded coffee segment. With much of the latest industry conversation surrounding the evolution of single serve offerings, we note that PEET does not current participate in the category. We maintain our Neutral rating and $57 price target on PEET shares."
At the time of posting, shares of PEET were trading pre-market at $52.75, up 0.06% from Monday's close.
