Jefferies Raises Numbers on Caribou Coffee (CBOU)

Jefferies raised estimates and its price target on Caribou Coffee (NASDAQ: CBOU) from $22 to $24, citing lower coffee costs in 2013.

The firm comments, "Although valuations are near historical averages, the potential gross margin improvements from lower coffee costs in 2013, along with positive fundamentals, lead us to raise estimates & target prices and continue to have a favorable view of the specialty coffee category."

The firm raised FY13 EPS from $0.63 to $0.73.

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 $16.32 yesterday.

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