UPDATE: Willliams Capital Group Upgrades Green Mountain Coffee Roasters on CEO Change
Willliams Capital Group raised its rating on Green Mountain Coffee Roasters (NASDAQ: GMCR) to an Outperform/Buy rating while raising its price target from $26 to $40.
Willliams Capital Group noted, "We are upgrading Green Mountain Coffee Roasters, Inc. (GMCR) to an Outperform/Buy rating. We are increasing our price target to $40.00, up from our prior target of $26.00. Our estimates remain unchanged at this time. Our upgrade this morning is due to the announcement of the hiring of Brian Kelley as CEO and President. He will be succeeding Lawrence Blanford on December 3rd. Mr. Blanford will be retiring. … A change of leadership is something we have previously viewed as one of the key actionable themes within consumer investing. We believe that Green Mountain shares will strongly outperform the market in the coming months."
Green Mountain Coffee Roasters closed at $27.33 on Monday.
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