UPDATE: Canaccord Genuity Raises PT to $45 on Green Mountain Coffee Roasters on Strong Quarter
Canaccord Genuity reiterated its Buy rating on Green Mountain Coffee Roasters (NASDAQ: GMCR) and raised its price target from $39 to $45.
Canaccord Genuity noted, "Guidance for the seasonally strong Q1 benefits from not only the strong start in October, but also the experience of knowing sales trends over the Thanksgiving weekend. We have considerable confidence in the Q1 guidance given the timing of the Q4 report. Beyond the timing-related predictability of Q1, significantly cleaner inventories heading into Q1, better channel management and a more manageable level of growth should all add to predictability and consistency, in our opinion."
Green Mountain Coffee Roasters closed at $28.95 on Tuesday.
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