Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

WR Hambrecht Downgrades Peet's Coffee Rating

WR Hambrecht downgraded Peet's Coffee (PEET) to market outperform from buy.

Analyst Kristine Koerber says first quarter earnings per share is exactly in line with estimates and she downgraded on valuation. She believes the current share price reflects any near-term catalysts such as the recent Safeway partnership. She notes shares (at Wednesday's close) were trading at 42.0 times her $0.39 2002 EPS estimate, and 28.2 times her $0.58 2003, a premium to Green Mountain Coffee and Starbucks. She sees little upside to her estimates to support a significantly wider EPS multiple. While she is raising her $16 target to $18, she notes it represents only a 10% upside from current levels.

blog comments powered by Disqus