Canaccord Expects Rapid Growth for Green Mountain Coffee

Canaccord has published a research report on Green Mountain Coffee (NASDAQ: GMCR) and expects rapid growth for the company.

In the report, Canaccord writes, "We expect several years of rapid growth, driven by rising penetration of Keurig single-cup coffee makers in coffee-drinking households that should drive higher revenue growth and even higher rates of earnings growth as the margin story unfolds. Early season sales appear stronger than prior years despite no real price promotion. In years past, sales built throughout the holidays, and there is ample inventory this year. "

Canaccord maintains its Buy rating and $94 price target on Green Mountain Coffee, which closed yesterday at $48.92.