Jefferies Raises Price Target on Peet's Coffee (PEET) to $88
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Price: $73.46 --0%
Rating Summary:
1 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies boosted its price target on Peet's Coffee & Tea (NASDAQ: PEET) from $68 to $88, while reiterating their Buy rating.
The firm comments, "We traveled with management to visit investors over the last 2 days & came away with further confidence that drivers behind Peet's fast-growing grocery biz remain robust, while benefits of recent cost efficiency efforts are only in early-mid stages. Importantly, we have increased visibility surrounding the improving dynamics of the premium coffee contracting."
The firm raised FY13 EPS from $2.25 to $2.50.
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 $72.24 yesterday.
The firm comments, "We traveled with management to visit investors over the last 2 days & came away with further confidence that drivers behind Peet's fast-growing grocery biz remain robust, while benefits of recent cost efficiency efforts are only in early-mid stages. Importantly, we have increased visibility surrounding the improving dynamics of the premium coffee contracting."
The firm raised FY13 EPS from $2.25 to $2.50.
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 $72.24 yesterday.
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