Another Analyst Defends Green Mountain (GMCR)
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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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In addition to KeyBanc, BofA/Merrill Lynch is now out defending Green Mountain Coffee (Nasdaq: GMCR) related to earlier negative brewer data. Shares are near the highs of the session, but still down 5%.
While we have not seen the BofA note first hand, we are told it was essentially the same as KeyBanc, which said:
"We have confirmed with a representative from Trade Data Services, Inc., which was the source of Keurig brewer import data presented in a competitors report this morning, that the October (down 5% year-over-year) and November (down 28% year-over-year) import data are not comparable to earlier months. It appears that information on the bill of lading, which is the source of detailed product information that Trade Data Services, Inc. uses, has been changed starting in October such that it is harder to trace the data correctly. It is perfectly normal for public companies to request that the bill of lading details not be disclosed to the public."
While we have not seen the BofA note first hand, we are told it was essentially the same as KeyBanc, which said:
"We have confirmed with a representative from Trade Data Services, Inc., which was the source of Keurig brewer import data presented in a competitors report this morning, that the October (down 5% year-over-year) and November (down 28% year-over-year) import data are not comparable to earlier months. It appears that information on the bill of lading, which is the source of detailed product information that Trade Data Services, Inc. uses, has been changed starting in October such that it is harder to trace the data correctly. It is perfectly normal for public companies to request that the bill of lading details not be disclosed to the public."
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