UPDATE: Jefferies Raises Target on Dunkin' Brands Group to $32

Jefferies reiterates its Buy rating on Dunkin' Brands Group

and raises its price target to $32 from $30 on solid growth in coffee, breakfast and snacking. Jefferies says, "4Q adj. EPS $0.30 (+10%) beat our $0.27/cons. $0.28, on strong DD SSS (+7.4%) & cont'd margin expansion. Stock down as first EPS guide for '12 ($1.19-1.23) in line, but stock moved strongly ahead of print and we would be buyers esp. on any weakness given defensive qualities & strong visibility to 15%+ LT EPS model. Our ‘12/13 EPS move to $1.21/1.41 for a new PT of $32 (fr. $30)." DNKN closed at $28.27 a share yesterday.