Janney Montgomery Scott Lifts Price Target on Green Mountain (GMCR) to 'Street High' $90

Janney Montgomery Scott lifted their price target on Green Mountain Coffee Roasters (NASDAQ: GMCR) from $62 to a 'street high' $90, following this morning's deal with Starbucks (Nasdaq: SBUX).

The firm called this an "enormous positive for GMCR on several levels."

• First, Keurig has landed one of the world's best coffee brands which strengthens the overall consumer proposition of the Keurig platform.
  
• Second, by having Starbucks in the family of Keurig brands, it removes the risk of this powerful brand in a competing system.
  
• Third, assuming Starbucks has studied the single-cup category extensively, it confirms the strength of Keurig's patent portfolio.

The firm estimates it will add at least $0.30 to GMCR EPS on a full year basis.

For more ratings news on Green Mountain Coffee Roasters click here and for the rating history of Green Mountain Coffee Roasters click here.

Shares of Green Mountain Coffee Roasters closed at $43.64 yesterday.

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