UPDATE: Williams Capital Group Raises PT to $46 on Green Mountain Coffee Roasters on FQ4 Upside
Williams Capital Group reiterated its Outperform/Buy rating on Green Mountain Coffee Roasters (NASDAQ: GMCR) and increased its price target from $40 to $46.
Williams Capital Group said, "We are increasing our F2013 sales estimate to $4.56 billion which represents an 18.2% year-over-year sales increase, up from our prior estimate of a 15.4% sales growth. This reflects the recently updated guidance from the management team, better than expected F4Q12 sales and favorable early impressions of holiday sales trends. … Thus far, it is our view that the results suggest that Green Mountain has yet to be negatively impacted by new competitors. Now that we have entered the holiday season, we believe that it is reasonable to expect the company to have a solid selling season."
Green Mountain Coffee Roasters closed at $37.81 on Tuesday.
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