Starbucks Corp. Price Target Increased to $85.00 by Analysts at Piper Jaffray Cos. (SBUX)
Stock analysts at Piper Jaffray Cos. raised their price target on shares of Starbucks Corp. (NASDAQ:SBUX) from $75.00 to $85.00 in a report issued on Tuesday, AmericanBankingNews.com reports. The firm currently has an “overweight” rating on the stock. Piper Jaffray Cos.’s price target indicates a potential upside of 12.54% from the company’s current price.
Starbucks Corp. (NASDAQ:SBUX) traded down 1.73% on Tuesday, hitting $75.53. The stock had a trading volume of 6,319,425 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 $74.20 and a 200-day moving average of $67.00. The company has a market cap of $56.753 billion and a price-to-earnings ratio of 36.79.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly 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. Analysts expect that Starbucks Corp. will post $2.23 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SBUX. Analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Starbucks Corp. in a research note to investors on Monday. They now have a $80.00 price target on the stock. Separately, 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks Corp. currently has a consensus rating of “Buy” and an average price target of $75.43.
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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