Canaccord Genuity maintains a 'Buy' on Green Mountain Coffee Roasters (GMCR); Shares Overreacted to Starbresso

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Canaccord Genuity maintains a 'Buy' on Green Mountain Coffee Roasters (NASDAQ: GMCR) price target of $94.00.

Analyst, Scott Van Winkle, said, "We expect several years of rapid revenue and earnings growth driven by rising penetration of Keurig single-cup coffee makers in North American households...The new brewer, Verismo, is complementary to Starbucks’ K-cups, but modestly competitive as well. GMCR shares significantly over-reacted after hours on concerns of competition. The new system is a solution for lattes and espressos, which neither the K-cup brewers nor the new Vue can do. Starbucks (Nasdaq: SBUX) noted Nespresso as its competition and neither Nespresso, nor CBTL’s espresso brewer, have impacted GMCR’s success."

For an analyst ratings summary and ratings history on Green Mountain Coffee Roasters click here. For more ratings news on Green Mountain Coffee Roasters click here.

Shares of Green Mountain Coffee Roasters closed at $62.40 yesterday, with a 52 week range of $34.06-$115.98.

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