Piper Jaffray Overweight On Green Mountain Coffee
Piper Jaffray is out with a research report on Green Mountain Coffee (NASDAQ: GMCR) and it has an Overweight rating and a $117 price target on shares.
In a note to clients, Piper Jaffray writes, "Double-digit growth opportunities within the fast-growing single serve coffee market leave us encouraged about the future of the coffee beverage space; which we have begun to profile in this report. In particular, we believe the recent K-Cup collaboration between Green Mountain and Starbucks (among other traditional coffee retailers) is compelling. We believe the majority of growth for the segment lies ahead as consumers continue to adopt the single serve form factor and product innovation and evolution continues. In our opinion, industry fundamentals are strong and current valuations remain conservative."
Shares of GMCR gained 27 cents yesterday to close at $106.78, a gain of 0.25%.
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