Canaccord Says Buy Green Mountain Shares, Jefferies Rates Abbott Labs and Starbucks a Buy
Green Mountain Coffee Roasters Inc.(NASDAQ:GMCR): Canaccord said shares of Green Mountain (NASDAQ:GMCR) were lower yesterday on reports Wal-Mart (NYSE:WMT) would introduce a single-serve beverage system from Esio in the spring. The analyst said the Esio beverage system uses mixing concentrates with water and has broad applications beyond coffee. The firm does not view it as competition for the core coffee consumer and notes concentrates have been around for decades and have not crossed over to home use. Shares or Green Mountain are Buy rated.
Starbucks Corp.(NASDAQ:SBUX): Jefferies recommends using any weakness in Starbucks shares post the company’s Q1 results as a buying opportunity. The firm believes Starbucks’ business momentum is impressive and raised its price target for shares to $53 from $50.
Abbott Laboratories(NYSE:ABT): Jefferies believes upside to Abbott’s 2012 earnings guidance is inevitable given the resumption of share repurchases and Humira sales and operational efficiencies. The firm believes the company set a low hurdle for itself in 2012 and keeps a Buy rating on the stock with a $65 price target.
Green Dot Corporation(NYSE:GDOT): Wedbush removed Green Dot from its Best Ideas List citing disappointing guidance. Shares remain Outperform rated.
Noble Corp.(NYSE:NE): FBR Capital said Noble’s Q4 report, bullish commentary on the Middle East, and strengthening demand for its standard jackup fleet reinforce is positive view of the company. Shares are Outperform rated with a $55 price target, up from $45.
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