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.