Starbucks Corp. Stock Rating Reaffirmed by JPMorgan Chase & Co. (SBUX)
Starbucks Corp. (NASDAQ:SBUX)‘s stock had its “buy” rating restated by stock analysts at JPMorgan Chase & Co. in a report issued on Monday, Analyst Ratings News reports. They currently have a $80.00 target price on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 3.36% from the company’s current price.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.16% during mid-day trading on Monday, hitting $77.28. The stock had a trading volume of 1,332,786 shares. Starbucks Corp. has a 52 week low of $44.27 and a 52 week high of $77.84. The stock has a 50-day moving average of $74.02 and a 200-day moving average of $66.72. The company has a market cap of $58.068 billion and a P/E ratio of 37.05.
Starbucks Corp. (NASDAQ:SBUX) last released its earnings data on Thursday, July 25th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis.
A number of other firms have also recently commented on SBUX. Analysts at Deutsche Bank raised their price target on shares of Starbucks Corp. from $80.00 to $85.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, 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. 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 equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $74.96.
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.
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