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.