Van Winkle pointed out that a National Coffee Association survey showed 81% of respondents' impression of single-serve coffee to be favorable, with purchase intent rising.
That bodes well for Green Mountain and its growing roster of available K-Cup options, as brands like Dunkin' Donuts (DNKN - Get Report), Starbucks (SBUX - Get Report), ConAgra's (CAG - Get Report) Swiss Miss, Newman's Own and Hain Celestial's (HAIN - Get Report) Celestial Seasonings tea offer brewing pods for the system, among others.
"Dunkin' advertising support is the unappreciated asset and Starbucks' 'on-time' launch should add to holiday momentum," Van Winkle added.
Earlier this year, the analyst raised his market share expectations for Keurig from 15% to 25% and then to 30%, but said he saw the one-cup brewer garnering upwards of 40% market penetration "given the strong line-up of brands available and further innovation lying ahead."
Shares of Green Mountain are up more than 180% year to date, and more than 240% from a year ago. The stock was rising 2.1% in premarket trading Monday after closing higher Friday at $92.06.
-- Written by Miriam Marcus Reimer in New York.
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