BGB Securities Maintains Hold Rating and $7.50 PT on Krispy Kreme Doughnuts Inc.
A report from BGB Securities reiterates its Hold rating and $7.50 price target on Krispy Kreme Doughnuts (NYSE: KKD).
The report states, “The launch of KKD's new coffee platform has shown positive early results, according to management, though they offered few specifics. The goal is to eventually move coffee from its current 4% of retail sales up to 10+% of on-premises sales; we think that this is achievable over time (and would give a nice boost to same-store sales), but coffee's potential is limited at KKD, in our opinion, due to the low density of KKD stores.”
KKD closed yesterday at $7.52.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.