Wedbush Starts Peet's Coffee & Tea (PEET) at Outperform; Medium Roast Rollout May Be Underappreciated
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Price: $73.46 --0%
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PEET Now!
Wedbush initiates coverage on Peet's Coffee & Tea (NASDAQ: PEET) with an Outperform. PT $83.00.
Analyst, Nick Setyan, said, "We believe Peet’s consensus expectations are poised for upward revisions based on the success of the medium-roast rollout in 2012 and lower coffee bean prices in 2013, leading to an increased valuation premium relative to both Peet’s historical average Forward P/E and to its peers."
"We expect Specialty revenue growth of 18.0% in 2012, led by 23% growth in Grocery, 13% growth in Foodservice, and 1% growth in Home Delivery. We believe the consensus expectation for Specialty growth in 2012 is 16-17%."
For an analyst ratings summary and ratings history on Peet's Coffee & Tea click here. For more ratings news on Peet's Coffee & Tea click here.
Shares of Peet's Coffee & Tea closed at $72.93 yesterday, with a 52 week range of $44.78-$77.60.
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Analyst, Nick Setyan, said, "We believe Peet’s consensus expectations are poised for upward revisions based on the success of the medium-roast rollout in 2012 and lower coffee bean prices in 2013, leading to an increased valuation premium relative to both Peet’s historical average Forward P/E and to its peers."
"We expect Specialty revenue growth of 18.0% in 2012, led by 23% growth in Grocery, 13% growth in Foodservice, and 1% growth in Home Delivery. We believe the consensus expectation for Specialty growth in 2012 is 16-17%."
For an analyst ratings summary and ratings history on Peet's Coffee & Tea click here. For more ratings news on Peet's Coffee & Tea click here.
Shares of Peet's Coffee & Tea closed at $72.93 yesterday, with a 52 week range of $44.78-$77.60.
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