Jefferies Cuts Numbers on Caribou Coffee (CBOU), Sees Buying Opportunity

Jefferies cut numbers and its price target on Caribou Coffee (NASDAQ: CBOU) from $24 to $22 following in-line Q1 results. The firm sees a buying opportunity on the sell-off.

The firm comments, "EPS in-line. SSS +2.5% & CPG +50% but offset by peak coffee infl. '12 guide down 1c to $0.47-0.50 on reduced low-mgn bean sales to GMCR. Mgmt has been upfront on normalizing CPG & we think more of inventory issue for GMCR. Fundamentals strong & given 2H tailwinds (infl/CPG mix) & LT retail drivers (unit dev/SSS), stock reaction yields attractive buying opp’y. 12/13 EPS to $0.49/0.70 (fr $0.50/0.73). PT $22 (fr $24)."

For an analyst ratings summary and ratings history on Caribou Coffee click here. For more ratings news on Caribou Coffee click here.

Shares of Caribou Coffee closed at $13.99 yesterday.

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