Bank of America Raises PO on Green Mountain Coffee to $65

Bank of America has published a research report on Green Mountain Coffee Roasters GMCR after the company's 1Q EPS of $0.55 beat analyst $0.30 forecasts. In the report, Bank of America writes, "In our view the company is evolving in several ways: 1) Brewer adoption is moving K-Cups more into the mainstream; 2) It appears that the platform is responsive to traditional forms of advertising and promotion; 3) Gross margins are beginning to expand as K-Cups become a larger part of the mix; 4) The second generation brewer is expected to launch in the next few “weeks”; 5) CEO Blanford announced his intention to retire when his contract expires at the end of 2013." Bank of America maintains its Buy rating and has raised the price objective from $60 to $65 on Green Mountain Coffee, which closed yesterday at $53.63.