Jefferies Boosts Price Target on Caribou Coffee (CBOU) After Solid Q4

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Jefferies raised its price target on Caribou Coffee (NASDAQ: CBOU) from $17 to $22 following Q4 EPS of $0.14, above the consensus of $0.13 and CPG +78% & SSS +5.6% drove upside despite cost headwind. The firm noted '12 EPS guidance was reiterated, but EPS much more 2H-weighted due to infl comparisons. "Strong CPG biz & reaccel of unit gr, impressive SSS & pricing flex paint a compelling growth opportunity"

The firm said valuation is attractive at 8.5x EV/ ’13 EBITDA & 1.1x PEG ('13).

Jefferies trimmed Q1 EPS from $0.08 to $0.04, but FY12 was maintained at $0.50.

For an analyst ratings summary and ratings history on Caribou Coffee click here. For more ratings news on Caribou Coffee click here.

Shares of Caribou Coffee closed at $17.59 yesterday, with a 52 week range of $8.50-$18.24.

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