Piper Jaffray Increases Green Mountain Coffee (NASDAQ: GMCR) Price Target to $105

Analysts at Piper Jaffray reiterated their Overweight rating for Green Mountain Coffee (NASDAQ: GMCR) and increased their price target from $90 to $105.

Commenting on this adjustment, the analysts said, “We recently completed store checks at over 30 national retail stores to assess recent Keurig brewer and K-cup sales trends. Following our checks, we are incrementally more confident in our Street-high March quarter estimates, and we are modestly increasing our full-year estimates. All in, demand remains consistent and strong, customer satisfaction remains high, and there appears to be no change to positive retail sales trends.”

The analysts noted the following points in regard to the store checks:
“29 of 30 retailers said that brewer and K-Cup sales continue to be strong.”
“Not one store in our survey indicated sales have slowed vs. previous trend.”
“Four stores went as far as to say that brewer sales accelerated post-holidays.”