SunTrust Defends Green Mountain (GMCR) Ahead of Next Week's Q2 Print
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Price: $91.67 --0%
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
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SunTrust Robinson Humphrey's William Chappell is out defending shares of Green Mountain (Nasdaq: GMCR) Thursday morning ahead of the company's second-quarter earnings report which is due on Wednesday of next week (May 2nd).
Chappell reassured investors Green Mountain shares are a "solid" play despite a sharp move lower since the beginning of March (down about 32 percent). He believes the company will beat the Street's quarterly estimates, potentially on the heels of "residual holiday demand."
The analyst is expecting Green Mountain to report second-quarter earnings of 65 cents per share on sales of $972 million, versus the current Street estimates of 64 cents per share and $971.70 million. Chappell is modeling for brewer shipments to be up about 25 percent from the same quarter last year to 1.5 million.
The SunTrust analyst rates Green Mountain a Buy with a $90 price target into the quarterly print.
Green Mountain shares are indicated for a gap higher. The stock last traded at $46.77.
To track all the market-moving analyst calls on shares of Green Mountain, visit our Analyst Ratings page.
Chappell reassured investors Green Mountain shares are a "solid" play despite a sharp move lower since the beginning of March (down about 32 percent). He believes the company will beat the Street's quarterly estimates, potentially on the heels of "residual holiday demand."
The analyst is expecting Green Mountain to report second-quarter earnings of 65 cents per share on sales of $972 million, versus the current Street estimates of 64 cents per share and $971.70 million. Chappell is modeling for brewer shipments to be up about 25 percent from the same quarter last year to 1.5 million.
The SunTrust analyst rates Green Mountain a Buy with a $90 price target into the quarterly print.
Green Mountain shares are indicated for a gap higher. The stock last traded at $46.77.
To track all the market-moving analyst calls on shares of Green Mountain, visit our Analyst Ratings page.
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