According to CNBC, coffee futures have risen 13% over the past three months, outpacing the VanEck Semiconductor ETF (SMH), which gained 2.2%, and the S&P 500, which advanced 4.1% since mid-May. The move comes despite record production, with demand still holding up and weather adding to supply uncertainty. Jefferies analyst Kaumil Gajrawala said arabica coffee prices have rebounded about 30% since June, and that this week's earthquake in Colombia disrupted a road carrying a significant share of the country's exports. HSBC upgraded Keurig Dr Pepper, the maker of K-Cup pods and owner of Green Mountain Coffee Roasters and Peet's, to buy from hold and raised its price target to $40 from $37, implying more than 35% upside. Analyst Sorabh Daga said trends in refreshment beverages and the outlook for U.S. coffee into 2H26 were encouraging. Starbucks has risen 29% year to date and 2.4% over the past three months, while Frank Cappelleri said a breakout in the stock could lift it toward his $125 target.