Starbucks Corp. PT Raised to $85.00 at Deutsche Bank (SBUX)
Investment analysts at Deutsche Bank increased their price target on shares of Starbucks Corp. (NASDAQ:SBUX) from $80.00 to $85.00 in a note issued to investors on Monday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective would suggest a potential upside of 9.82% from the company’s current price.
The analysts wrote, “We believe the July sluggishness discussed on 2Q conf. calls generally continued through the balance of 3Q. From MCD to DFRG, mgmt. tone has remained cautious on the restaurant consumer. In contrast, sector valuations are near cyclical peaks (~22x NTM P/E), leaving us concerned about relative and absolute perf. for the group into earnings season. Also, an extended govt. shutdown would likely cause some further retrenchment in restaurant spending. Maintain defensive bias. Reiterate Buys on MCD (franchise income on the cheap) and BWLD (favorable margin outlook protects EPS).”
A number of other analysts have also recently weighed in on SBUX. Analysts at Pacific Crest initiated coverage on shares of Starbucks Corp. in a research note to investors on Friday, September 27th. They set an “outperform” rating and a $88.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Starbucks Corp. from $74.00 to $80.00 in a research note to investors on Tuesday, September 24th. They now have an “overweight” rating on the stock. Finally, analysts at Wells Fargo & Co. reiterated a “hold” rating on shares of Starbucks Corp. in a research note to investors on Friday, September 20th. They now have a $73.00 price target on the stock. Six analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Starbucks Corp. has a consensus rating of “Buy” and a consensus price target of $74.96.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.72% during mid-day trading on Monday, hitting $76.841. 1,119,323 shares of the company’s stock traded hands. Starbucks Corp. has a 52 week low of $44.27 and a 52 week high of $77.84. The stock’s 50-day moving average is $74.02 and its 200-day moving average is $66.72. The company has a market cap of $57.738 billion and a price-to-earnings ratio of 37.05.
Starbucks Corp. (NASDAQ:SBUX) last released its earnings data on Thursday, July 25th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis.
Starbucks Corporation is a roaster, marketer and retailer of coffee operating in 60 countries. The Company purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through Company-operated stores.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.