Ahead of the Bell: Green Mountain Coffee Roasters

Green Mountain Coffee Roasters up in premarket; analyst confident in cost-saving opportunities

Associated Press

NEW YORK (AP) -- Green Mountain Coffee Roasters could recognize substantial savings ahead KeyBanc said, pushing shares higher in premarket trading Wednesday.

The company held is inaugural investor day in Boston. KeyBanc Capital Markets analyst Akshay Jagdale pointed to the company's goal of trimming manufacturing, logistics and direct material costs to save as much as $100 million in 2014.

Jagdale is optimistic about three new beverage systems being launched by the company over the next three years - which is more activity than has been seen in the past 10 years.

Jagdale reiterated a "Buy" rating and increased Green Mountain's price target by $10, to $100.

A representative for the company did not immediately respond to an email seeking comment.

Green Mountain's stock gained 52 cents to $84.30 in premarket trading.

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