Wedbush is starting coverage on Peet's Coffee (PEET) with an Outperform and $83 PT, arguing...

|About: Peet's Coffee & Tea, Inc. (PEET)|By:, SA News Editor

Wedbush is starting coverage on Peet's Coffee (PEET) with an Outperform and $83 PT, arguing estimates will rise due to the successful rollout of Peet's medium-roast blend and lower 2013 coffee bean prices. The firm is less positive on Teavana (TEA), which is receiving a Neutral and $21 PT out of a belief the company will have trouble expanding beyond 500 stores in the U.S (it currently has 200).