Peet's Coffee & Tea initiated with "outperform"

01/14/08 - Cowen and Company

NEW YORK, January 14 (newratings.com) - Analysts at Cowen & Co initiate coverage of Peet's Coffee & Tea (PEET) with an "outperform" rating.

In a research note published this morning, the analysts mention that the company has completed investing in the infrastructure of its retail-store division and is poised to launch 2,300 East-Coast grocery-stores in 2008. Peet's Coffee & Tea is well positioned to generate above-consensus margin leverage in 2009-2012, the analysts say. Cowen & Co expects the company’s stock to outperform the market by 30% in the next one year.