UBS AG Initiates Coverage on Starbucks Corp. (SBUX)
UBS AG assumed coverage on shares of Starbucks Corp. (NASDAQ:SBUX) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock. The analysts noted that the move was a valuation call.
Starbucks Corp. (NASDAQ:SBUX) traded up 1.06% on Wednesday, hitting $78.03. 5,080,245 shares of the company’s stock traded hands. Starbucks Corp. has a 52 week low of $52.52 and a 52 week high of $82.50. The stock’s 50-day moving average is $78.74 and its 200-day moving average is $75.15. The company has a market cap of $58.803 billion and a P/E ratio of 7721.00.
Starbucks Corp. (NASDAQ:SBUX) last released its earnings data on Thursday, October 31st. The company reported $0.60 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.60. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter last year, the company posted $0.46 earnings per share. Starbucks Corp.’s revenue was up 12.8% compared to the same quarter last year. Analysts expect that Starbucks Corp. will post $2.65 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse initiated coverage on shares of Starbucks Corp. in a research note to investors on Tuesday. They set an “outperform” rating and a $96.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Starbucks Corp. in a research note to investors on Thursday, December 26th. They now have a $82.00 price target on the stock. Finally, analysts at Stephens downgraded shares of Starbucks Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, December 16th. They now have a $85.00 price target on the stock, down previously from $95.00. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $81.00.
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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