Wedbush Starts Peet's Coffee & Tea (PEET) at Outperform; Medium Roast Rollout May Be Underappreciated
Tweet
Share
E-mailGet Alerts PEET Hot Sheet
Price: $73.46 --0%
Rating Summary:
1 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
- UBS Starts Schrodinger (SDGR) at Neutral
- Canaccord Starts Galiano Gold (GAU:CN) at Buy
Create E-mail Alert Related Categories
New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
