NEW YORK (TheStreet) -- Shares of Dunkin' Brands Group (DNKN) - Get Report are buzzing, up 2.4% to $46.50 in pre-market trading Thursday, after analysts at Goldman Sachs upgraded the donut and coffee company to "buy" from "neutral" this morning.

Goldman analysts also raised their price target on Dunkin Brands to $54 from $47.

The firm cited Dunkin' Brands' increasing K-cup sales to help drive growth, as well as better results from its "Perks" loyalty program for the higher rating.

Analysts also cited an expected earnings contribution from its new distribution deal for its coffee.

Canton, MA-based Dunkin' Brands Group is a franchisor of quick service restaurants serving hot and cold coffee and baked goods, as well as hard serve ice cream.

The company franchises restaurants operate under its Dunkin' Donuts and Baskin-Robbins brands.

The company has over 17,400 points of distribution in 55 countries, and functions under four segments: Dunkin' Donuts U.S., Dunkin' Donuts International, Baskin-Robbins International and Baskin-Robbins U.S.

Separately, TheStreet Ratings team rates DUNKIN' BRANDS GROUP INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate DUNKIN' BRANDS GROUP INC (DNKN) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The revenue growth came in higher than the industry average of 7.7%. Since the same quarter one year prior, revenues slightly increased by 5.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
• DUNKIN' BRANDS GROUP INC has improved earnings per share by 28.2% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, DUNKIN' BRANDS GROUP INC increased its bottom line by earning $1.66 versus $1.36 in the prior year. This year, the market expects an improvement in earnings ($1.86 versus $1.66).
• The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and greatly outperformed compared to the Hotels, Restaurants & Leisure industry average. The net income increased by 24.8% when compared to the same quarter one year prior, going from $42.07 million to $52.51 million.
• The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. When compared to other companies in the Hotels, Restaurants & Leisure industry and the overall market, DUNKIN' BRANDS GROUP INC's return on equity exceeds that of the industry average and significantly exceeds that of the S&P 500.
• The gross profit margin for DUNKIN' BRANDS GROUP INC is currently very high, coming in at 79.76%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 27.17% significantly outperformed against the industry average.
• You can view the full analysis from the report here: DNKN Ratings Report