Starbucks Corp. (SBUX) – Analysts’ Weekly Ratings Changes
Starbucks Corp. (NASDAQ: SBUX) received a number of ratings updates from brokerages and research firms in the last week:
- Starbucks Corp. was downgraded by analysts at Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating.
- Starbucks Corp. ‘s EPS estimates were cut by analysts at UBS AG. They now have a “neutral” rating and a $80.00 price target on the stock.
- Starbucks Corp. had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $94.00 price target on the stock. They wrote, “FY14 increased 2 – 4c, but includes the unexpected 1Q 2c benefit so the real increase is more moderate,” the report noted. “Pacing of quarterly EPS is slightly different than we’d modeled, with slower growth in the 3Q and picking up pace in the 4Q. 2) Green coffee visibility improving in ’15 with ¼ needs locked at lower prices Y/Y though we’d expect incrementally less benefit than ’14. 3) Boulange roll out hasn’t affected speed of service, according to mgmt, though consumer perception may differ; lunch roll out likely late in F’14 or early ’15. 4) Carbonated beverages, another sales driver, rolls to ~1/2 the system this summer, with balance slated for summer 15.”
- Starbucks Corp. had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $89.00 price target on the stock, down previously from $93.00. They wrote, “multiple contraction by the peer group.”
- Starbucks Corp. had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $79.00 price target on the stock. Zacks‘ analyst wrote, “Starbucks delivered mixed first-quarter fiscal 2014 results, beating the Zacks Consensus Estimate for earnings but missing the same for revenues as U.S. sales slowed. However, Starbucks raised earnings expectations for 2014 while maintaining the top-line guidance. Overall, we are encouraged by Starbucks’ strong global retail footprint, successful food/beverage innovations, rapid growth in international markets and solid turnaround in the U.S. We believe that the company has compelling growth drivers like La Boulange, Evolution Fresh, Teavana, K-Cups, loyalty program and food innovations to sustain the earnings momentum. However, macro challenges in Europe and the recent slowdown of the CPG business keeps us on the sidelines. “
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 1.10% on Friday, hitting $71.12. The stock had a trading volume of 6,143,528 shares. Starbucks Corp. has a one year low of $52.52 and a one year high of $82.50. The stock has a 50-day moving average of $76.02 and a 200-day moving average of $75.95. The company has a market cap of $53.596 billion and a P/E ratio of 466.95.
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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