Peet's Coffee Surging On Possible Partnership With Green Mountain


Photo: Flickr/Thomas Abbs

Peet’s Coffee & Tea is up around 9% on the possibility of a partnership with Green Mountain Coffee Roasters.Green Mountain was recently passed over for a single-brewer technology collaboration with Starbucks.

A Janney Capital analyst raised Peet’s from neutral to buy on partnership speculation which he believes could be official as soon as March 6.

Peet’s posted a lower fourth quarter profit in February but came in line with an EPS of $0.48 and revenue of $91.6 million. The chain also posted double-digit sales growth in its grocery channel this year

Green Mountain shares were flat today.

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