Market Overview

UPDATE: Williams Capital Group Raises PT to $55 on Starbucks on Updated Sales, Expense Projections

Share:
Related SBUX
Week Ahead: It's Not Just Earnings This Time, as GDP, Fed Also on Tap
Earnings Momentum Continues To Support Stocks Despite Weak Oil
Starbucks Shares Are Overpriced (Seeking Alpha)

Williams Capital Group reiterated its Perform/Hold rating on Starbucks (NASDAQ: SBUX) and raised its price target from $49 to $55.

Williams Capital Group commented, "We have increased our sales growth estimate by 1% to 11.8% to reflect better than expected current sales trends. Starbucks noted that the first two months of F1Q comp store sales growth in the China/Asia Pacific segment were similar to the 10% growth trends seen in F4Q 2012. We have also reduced our store operating expense estimate by 120 basis points to reflect the margin strength seen in F4Q 2012 results."

Starbucks closed at $53.19 on Tuesday.

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: williams capital groupAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (SBUX)

View Comments and Join the Discussion!