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TRADE ALERT- Buy Krispy Kreme- Janney Capital (KKD)

Janney Capital upgraded shares of Krispy Kreme (NYSE: KKD) to “Buy” from “Neutral” ahead of the company’s second quarter earnings report due to be released on August 29. Janney said that it upgraded the company due to strong same store sales, improving unit economics, and accelerating unit growth. The firm kept a $26 price target on the stock but raised its EPS estimate from $0.15 to $0.16.

The stock is up 63 percent year to date after positive earnings propelled the stock to 52 week highs. The stock is above its 20, 50, and 200 day moving average with an RSI approaching over bought at 68. Trading at 21.40, using Janney’s price target, the stock has further upside potential of more than 21 percent.

Other Monday Trade Alerts: TRADE ALERT- Buy NetApp into Earnings – Brean Capital

Company Profile

Krispy Kreme Doughnuts, Inc., together with its subsidiaries, operates as a branded retailer and wholesaler of doughnuts, beverages, and treats and packaged sweets worldwide. It owns and franchises Krispy Kreme stores. As of February 3, 2013, the company operated 97 company shops, 142 domestic franchise stores, and 509 international franchise shops. It also produces doughnut mixes and doughnut-making equipment. The company was founded in 1937 and is headquartered in Winston-Salem, North Carolina.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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