KeyBanc Capital Markets Initiates Teavana Holdings Coverage: Buy, $28 PT

KeyBanc Capital Markets initiated coverage on Teavana Holdings TEA with a $28 price target and Buy rating in a research report published today. In the report, KeyBanc Capital Markets stated, "Teavana Holdings, Inc. (TEA-NYSE) has a strong combination of a distinctive store environment, attractive secular trends and a visible gross margin tail – we initiate with a BUY rating." Shares of Teavana Holdings closed today at $20.99, down 5.87% from Wednesday's market close.