Firm: Stifel - Just put a SELL RATING ON "GMCR" after Investor Meeting
Stifel discusses Investor Meeting takeaways -- absent successful innovation, firm anticipates decelerating sales growth to worsen (83.78)
Stifel notes that relative to heightened expectations, there was little meaningful new news at the Investor Day they note initial FY14 guidance ~in-line with consensus. GMCR outlined plans to launch four new brewer platforms over the next several years, including a new coffee system that will accept K-Cups and Vue packs, a cold beverage system producing carbonated and still beverages [SODA], a water system, and an as-of-yet unspecified specialty system. The co did not announce new branded or private label coffee partnerships or make a definitive statement on whether it would attempt to re-close the K-Cup system preventing unlicensed brands from being used in brewers. Absent successful innovation, they anticipate decelerating sales growth to worsen; Sell.