Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) may be on its way back to that $90+ price target from the most bullish analyst out there. Or, maybe not. Time will tell. Today’s move in shares of Green Mountain stock feels a bit suspicious on the surface. Shares are higher on news reports that NPD data projected that Keurig brewer sales are up by about 50% or so from this last December (2011) to the prior December (2010).
The report would be far higher than what analysts in general have been expecting. As you can imagine, the report has taken away some courage from the short sellers who have already cleaned house in the decline seen in the recent months in this stock.
Green Mountain shares are up 7.3% at $50.40 and the 52-week trading range is $32.73 to $115.98. If you include the move today, Green Mountain shares are now up 12% from the closing price of $44.85 on December 30, 2011.
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