2211 GMT [Dow Jones]--Soaring coffee prices could force caffeine addicts to switch from cafes to home brew, which might be good news for small-appliance makers. Citi analyst Sam Teeger tells clients in a note that the highest coffee prices in decades could create a new cohort of potential customers for the likes of Australia's Breville, which makes home appliances including coffee machines. However, he warns that Breville's premium market position means the impact of any such trend might be delayed relative to other brands. Breville is typically the third or fourth coffee-machine brand that a customer buys, he says. Citi has a neutral rating and A$36.51 target price on the stock, which is at A$33.28 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 02, 2024 17:13 ET (22:13 GMT)
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