Keurig Green Mountain Perking Up After Making 52 Week Low

em>Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Keurig Green Mountain Inc. GMCR shares are trading higher by $0.80 at $84.63 in Monday's session. The issue, which made a new made new 52 week low ($80.83) on Friday did not come close to that levels during the broad markets tumble off the open. Instead it bottomed $2.05 from that level ($82.78) and rebounded all the way to $85.00. That level coincides with the pair of highs from last Wednesday ($85.11) and Thursday ($84.85) sessions. The weakness on Friday may be attributed to a Raymond James downgrade of the issue from Buy to Neutral with a price target reduction from $114 to $86. The issue is quite some distance from its all time high ($158.87) that made in November, when many speculated Coca-Cola KO may have some interest in acquiring the company as it was buying shares of the company in the open market.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: TechnicalsIntraday UpdateMoversTrading IdeasPremarket outlook
Benzinga simplifies 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!