Canaccord Genuity Still Sees a Starbucks (SBUX) Deal With Green Mountain (GMCR) Despite Concerns
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Price: $91.67 --0%
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 17 | New: 4
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 17 | New: 4
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Canaccord Genuity commented on Buy-rated Green Mountain Coffee Roasters (NASDAQ: GMCR) on renewed speculation about what Starbucks (Nasdaq: SBUX) will do in the single-serve market after the March 1 expiration of its agreement with Kraft Foods (NYSE: KFT).
Analyst Scott Van Winkle said, "Our belief has been, and continues to be, that Starbucks coffee will be available for Keurig brewers later this year. A deal is inevitable, in our opinion, and the timing may be soon given these articles."
He added that, "What is new to our conclusions, based on these most recent articles, is that we suspect a Starbucks-Green Mountain partnership might revolve around the launch of a new Keurig brewer technology that is about to be tested. Both articles indicate that a partner has yet to be announced. However, we know that Keurig’s patent portfolio around single-serve gives it a significant advantage by limiting competitive risk, and that the company has a brand that resonates with consumers."
Shares of GMCR are down 4.3% this morning on concerns.
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 $43.46 yesterday.
Analyst Scott Van Winkle said, "Our belief has been, and continues to be, that Starbucks coffee will be available for Keurig brewers later this year. A deal is inevitable, in our opinion, and the timing may be soon given these articles."
He added that, "What is new to our conclusions, based on these most recent articles, is that we suspect a Starbucks-Green Mountain partnership might revolve around the launch of a new Keurig brewer technology that is about to be tested. Both articles indicate that a partner has yet to be announced. However, we know that Keurig’s patent portfolio around single-serve gives it a significant advantage by limiting competitive risk, and that the company has a brand that resonates with consumers."
Shares of GMCR are down 4.3% this morning on concerns.
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 $43.46 yesterday.
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