Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Starbucks Corporation

Share:
Related SBUX
Earnings Momentum Continues To Support Stocks Despite Weak Oil
7 Biggest Price Target Changes For Friday
Week In Review: Stock Breakouts, Netflix Subs Snub, Tesla's Plan, M&A News (Investor's Business Daily)

In a report published Friday, Deutsche Bank reiterated its Buy rating on Starbucks Corporation (NASDAQ: SBUX), and slightly raised its price target from $55.00 to $56.00.

Deutsche Bank noted, “Finishing FY12 on a Strong Note (Against a Low Bar). Healthy F4Q results should address key concerns raised in July, as Americas SSS re-accelerated (against tougher compares and low expectations) and costs were well-managed (EBIT margin 20bps above model, incl. charges). SBUX also raised the div. by 24% and repurchased ~$500mm in shares in the qtr. We had not expected either given the pending legal settlement, suggesting mgmt.'s confidence in cash generation. Raising ests; PT to $56. Maintain Buy.”

Starbucks Corporation closed on Thursday at $46.59.

Latest Ratings for SBUX

DateFirmActionFromTo
Jul 2016Goldman SachsMaintainsBuy
Jul 2016WedbushMaintainsOutperform
Jul 2016BTIG ResearchMaintainsBuy

View More Analyst Ratings for SBUX
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (SBUX)

View Comments and Join the Discussion!