UPDATE: Green Mountain Coffee Roasters Down 15% On Downgrade, Move By Starbucks, Which Has Hit Yr Highs


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Green Mountain Coffee Roasters ( GMCR ) has been downgraded to Neutral from Buy at BofA/Merrill Lynch. Price target is lowered to $63 from $70.

In addition, Starbucks Corp. ( SBUX ) - which has hit year highs today - plans to start selling a single-cup coffee system in a bid to expand beyond its partnership with the Waterbury, Vermont-based specialty coffee and coffee maker company, as Bloomberg reported.

Shares are down 15% to $52.75 and have touched a session low $51.88, with a 52-week range of $34.06 - $115.98.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
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