Loading...
Loading...
Shares of Green Mountain Coffee Roasters
GMCR are up more than 2 percent Tuesday morning on the heels of an earlier research note from KeyBanc's Akshay Jagdale. With about four hours left in the intraday trading session, the stock is around $73.43 at last check.
Following some comments from Coca-Cola
KO CEO Muhtar Kent at the Beverage Digest Conference on Monday, Jagdale believes a Green Mountain deal with Coca-Cola could be on the table if the maker of the Keurig can offer a quality cold-platform product. Kent called the single-serve dispensing line of products more of an opportunity than a threat, but seemed to suggest further innovation will be needed.
Jagdale noted several "key technological hurdles" which Green Mountain's Keurig cold has overcame:
- "the beverage had to come out cold;
- preparation time had to be at or less than 60 seconds;
- carbonation had to be achieved without the use of a CO2 cylinder; and
- the system had to be capable of delivering a perfect dose for each beverage/brand."
The KeyBanc analyst maintains a Buy rating and $100 price target on shares of Green Mountain. Jagdale's price target implies potential upside of about 36 percent from where Green Mountain shares are currently trading.
Loading...
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in