Roth Analyst Says Buy the Dip in Green Mountain (GMCR) Shares

Roth Capital's Anton Brenner is taking a clearly bullish stance on shares of Green Mountain (Nasdaq: GMCR) following Thursday evening's news Starbucks (Nasdaq: SBUX) is introducing its own single-serve espresso maker into the market. While most analysts remain bullish on Green Mountain shares (save for one BofA analyst who downgraded GMCR to Neutral), Brenner is going the extra step and recommending investors buy the weakness in the stock Friday.

Brenner sees the 14-16 percent decline in shares of Green Mountain as "overdone." The analyst believes increased competition within the single-serve espresso market could accelerate consumer adoption of such products across all brands.

Brenner and Roth Capital maintain a Buy rating and $120 price target on shares of Green Mountain. With the stock last trading at $52.51 Friday afternoon, Brenner's price target represents potential upside of a whopping 128 percent.

Notably, shares of Starbucks (Nasdaq: SBUX) are up 2.5 percent at last check.

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