SodaStream (SODA) Continues to Pop - Up Over 5.5% on Positive Comments
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Price: $143.68 --0%
Rating Summary:
3 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
Rating Summary:
3 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
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SodaStream (Nasdaq: SODA) is trading up about 6% on strong volume. The stock has been on a tear since mid-December, moving up about 30%.
Positive action started after SODA announced it would be acquiring its Nordic and Baltic distribution business, and all related assets, for E$7.8 million. Two weeks later the company announced a strategic partnership for the manufacturing, marketing, distribution and sale of Kraft Foods (NYSE: KFT) branded flavors for use with the SodaStream soda making system. This will be the first time that Kraft Foods flavors will be available specifically for use in a carbonated beverage.
This deal sent shorts running. Wall Street analysts made favorable comments and stores were selling SODA's products like hotcakes.
Today's action may be in part related to by Oppenheimer, who reiterated an 'Outperform' rating and $55 price target.
Oppenheimer said, "We recently had the opportunity to meet with SODA senior management for a rather wide-ranging and lengthy discussion. Importantly, we came away with increased conviction in our bullish stance and Outperform rating on the shares, and we would continue to be buyers at current levels."
The analyst also feels that see the company expanding from approx. 10k stores to 17-18k. Also, they feel SODA, and the opportunity to enter Wal-Mart (NYSE: WMT) locations, is a WHEN, not IF, but affirm the timing at this point, is unclear.
On the innovation front, SODA will soon be launching its first soda maker (plug in) and will have four buttons corresponding to different levels of carbonation. A Single-serve machine is also in the works for restaurants and offices.
Positive action started after SODA announced it would be acquiring its Nordic and Baltic distribution business, and all related assets, for E$7.8 million. Two weeks later the company announced a strategic partnership for the manufacturing, marketing, distribution and sale of Kraft Foods (NYSE: KFT) branded flavors for use with the SodaStream soda making system. This will be the first time that Kraft Foods flavors will be available specifically for use in a carbonated beverage.
This deal sent shorts running. Wall Street analysts made favorable comments and stores were selling SODA's products like hotcakes.
Today's action may be in part related to by Oppenheimer, who reiterated an 'Outperform' rating and $55 price target.
Oppenheimer said, "We recently had the opportunity to meet with SODA senior management for a rather wide-ranging and lengthy discussion. Importantly, we came away with increased conviction in our bullish stance and Outperform rating on the shares, and we would continue to be buyers at current levels."
The analyst also feels that see the company expanding from approx. 10k stores to 17-18k. Also, they feel SODA, and the opportunity to enter Wal-Mart (NYSE: WMT) locations, is a WHEN, not IF, but affirm the timing at this point, is unclear.
On the innovation front, SODA will soon be launching its first soda maker (plug in) and will have four buttons corresponding to different levels of carbonation. A Single-serve machine is also in the works for restaurants and offices.
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