Jefferies Raises Numbers on Caribou Coffee (CBOU) After Strong Q2

Jefferies raised estimates and its price target Caribou Coffee (NASDAQ: CBOU) from $14 to $17 following Q2 results.

The firm comments, "2Q EPS (taxed) of $0.13 vs. our $0.08/cons $0.09, as strong growth in CPG biz (+94%) & 4.6% SSS at coffeehouses drove upside. Stock likely up on 2Q beat & higher '11 guide. With a quality product & rapidly growing CPG biz, we believe CBOU can drive 25% EPS growth over time & see valuation expansion with broader ownership & awareness. Our 11/12 EPS raised to $0.40/0.50 (from $0.37/0.46). PT to $17 (from $14)."

For more ratings news on Caribou Coffee click here and for the rating history of Caribou Coffee click here.

Shares of Caribou Coffee closed at $15.15 yesterday.

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