Green Mountain (GMCR) Bulls Fight Back
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Price: $91.67 --0%
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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After rising 13 percent Tuesday, battleground stock Green Mountain Coffee (Nasdaq: GMCR) is rising another 6 percent in early trading Wednesday as analysts talked up positive NPD data and the company had a successful investor meeting in Boston.
Despite the recent bounce, shares are still down 39 percent since David Einhorn's short presentation on 10/17 and down 25 percent since missing Q4 earnings on 11/9.
"GMCR rallied significantly yesterday on the circulation of strong brewer sell-through data, supportive commentary from Starbucks and investor access to management, and thus opportunities to answer a slew of investor questions," Canaccord Genuity analyst Scott Van Winkle noted in a research report Wednesday.
Commenting on the Canaccord-hosted investor meetings in Boston, he noted that the company effectively addressed several hot topics including the Q4 shortfall, inventory, cash flow, accounting and K-cup economics.
October NPD data showed strong year-over-year brewer sales growth at retail consistent, or better than the 73% growth in September.
The firm reiterated their Buy rating and $94 price target, saying they expect several years of rapid growth, driven by rising penetration of Keurig single-cup coffee makers.
Despite the recent bounce, shares are still down 39 percent since David Einhorn's short presentation on 10/17 and down 25 percent since missing Q4 earnings on 11/9.
"GMCR rallied significantly yesterday on the circulation of strong brewer sell-through data, supportive commentary from Starbucks and investor access to management, and thus opportunities to answer a slew of investor questions," Canaccord Genuity analyst Scott Van Winkle noted in a research report Wednesday.
Commenting on the Canaccord-hosted investor meetings in Boston, he noted that the company effectively addressed several hot topics including the Q4 shortfall, inventory, cash flow, accounting and K-cup economics.
October NPD data showed strong year-over-year brewer sales growth at retail consistent, or better than the 73% growth in September.
The firm reiterated their Buy rating and $94 price target, saying they expect several years of rapid growth, driven by rising penetration of Keurig single-cup coffee makers.
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