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    Ahead of the Bell: Green Mountain Coffee Roasters

    AP – Thu, Nov 10, 2011

    NEW YORK (AP) — Shares of Green Mountain Coffee Roasters are sinking Thursday morning after it posted fiscal fourth-quarter revenue that fell short of analyst expectations. But the company's business is still strong, several analysts say.

    The seller of single-serve coffee products said late Wednesday that profit in its most recent quarter nearly tripled as revenue climbed 91 percent. But analysts had expected still stronger sales growth.

    Shares fell $19.62, or 29 percent, to $47.40 in premarket trading Thursday. Stock of the Waterbury, Vt., company closed Wednesday at $67.02, before it released results.

    Shares are down 32 percent in the past three months amid criticism from a well-known investor, David Einhorn. Einhorn is famous for betting against Lehman Brothers before the bank's 2008 bankruptcy.

    Even including the recent decline, Green Mountain shares have still more than doubled in 2011 as its Keurig single-cup coffee system has become more popular. Green Mountain has developed key partnerships with Starbucks Corp. and others major retailers.

    The company blamed the revenue shortfall in its latest quarter on softening orders from wholesale grocery and club customers.

    But several analysts were still optimistic about the company's prospects.

    "Green Mountain's outlook has never been better," said Janney Capital Markets analyst Mitchell Pinheiro said in a note to clients. The analyst said he strongly recommends investors purchase the stock at its current level.

    KeyBanc Capital Markets analyst Akshay S. Jagdale said that although he is concerned about the company's quarterly revenue missing expectations and its high inventory heading into the holiday season, demand for its K-Cups remains solid and showed signs of accelerating in September, according to industry reports.

    Still, he cut his price target on the stock to $80 from $120.

     

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