When we compiled our daily analyst upgrades and downgrades this morning, it was impossible not to notice that Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) was raised to Outperform from Neutral. More important is that it was named the Bull of the Day by the independent research shop after an impressive earnings report for its first quarter. The thought is that 233% earnings growth was even higher than the independent research firm’s consensus estimate by about 66%. A strong holiday season met strong Keurig Single-Cup Brewing System sales as the company used effective marketing and aggressive promotions. Zacks also went on to note that Green Mountain is expanding new brand relationships and attracting new consumers.
With shares up marginally at $66.45, Zacks has a $81.00 price target based on just over 30-times expected earnings. Green Mountain has a market cap of $10.3 billion today and its 52-week trading range is $39.42 to $115.98. Thomson Reuters has a consensus price target objective of $89.00 for the stock.
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