Green Mountain Shares Fall Following Downgrade from Argus, Firm Has Concerns Over Competition
On Thursday, Argus downgraded Green Mountain Coffee Roasters, Inc. (NASDAQ: GMRC) from Buy to Hold based on an increase in K-Cup distribution.
Argus noted less expensive K-Cup versions from Kraft's Maxwell House, Whole Foods, and Reckitt Benckiser's Peet's. The analyst reported that unlicensed K-Cup makers have gained 8 percent in market shares. Argus commented that they may upgrade the stock if private label manufacturing increases beyond expectations or Green Mountain reverses market share losses.
Bloomberg data shows that Green Mountain has an average PT of $93 and 11 out of 17 analysts recommend to Buy.
Green Mountain closed at $62.59 on Wednesday and is currently trading -1.09 percent.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.