Upgrade Alert for Green Mountain Coffee Roasters (GMCR)
Green Mountain Coffee Roasters (NASDAQ:GMCR) was upgraded from Hold to Buy at Argus Research today. The stock closed yesterday at $39.36 on volume of 4.0 million shares, below average daily volume of 5.1 million.
Green Mountain Coffee Roasters, Inc. roasts Arabica coffees and offers various coffee selections. The Company's products include single-origin, estate, certified organic, Fair Trade, signature blends, and flavored coffees sold under the Green Mountain Coffee Roasters brand. Green Mountain serves offices, supermarkets, and convenience stores, and operates a direct mail business.
In the past 52 weeks, shares of Green Mountain Coffee Roasters have traded between a low of $17.11 and a high of $115.98 and closed yesterday at $39.36, which is 130% above that low price. The 200-day and 50-day moving averages have moved 0.58% lower and 2.62% higher over the past week, respectively.
There is potential upside of 16.4% for shares of Green Mountain Coffee Roasters based on a current price of $39.36 and an average consensus analyst price target of $45.83. The stock should find initial support at its 50-day moving average (MA) of $35.26 and further support at its 200-day MA of $29.06.
SmarTrend recommended that subscribers consider buying shares of Green Mountain Coffee Roasters on November 20th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.08. Since that recommendation, shares of Green Mountain Coffee Roasters have risen 35.4%. We continue to monitor GMCR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Green Mountain Coffee Roasters