UPDATE: Dougherty & Company Downgrades Green Mountain Coffee Roasters; Lowers PT

According to a research report published this morning, Dougherty & Company has downgraded Green Mountain Coffee Roasters GMCR from Buy to Neutral, and lowered PT from $65 to $35. Dougherty & Company said, "The March quarter demonstrated major deterioration in fundamental performance, while the outlook for 2H suggests the risk for further slowdown in portion pack demand, declining attachment rates, and a lack of fundamental visibility and predictability for the company and the investment community." Green Mountain Coffee Roasters closed yesterday at $49.52.