Market Overview

UPDATE: Deutsche Bank Raises PT on Starbucks Following 3Q13 Preview

Share:
Related SBUX
What We Know About Soon-To-Be Starbucks CEO Kevin Johnson
Starbucks Analyst Days Are Generally Not Market-Moving Events, But ...
Top 5 Stock Picks To Consider For 2017 (Seeking Alpha)

In a report published Monday, Deutsche Bank analyst Jason Weate reiterated a Buy rating on Starbucks Corporation (NASDAQ: SBUX), and raised the price target from $80.00 to $85.00.

In the report, Deutsche Bank noted, “We believe the July sluggishness discussed on 2Q conf. calls generally continued through the balance of 3Q. From MCD to DFRG, mgmt. tone has remained cautious on the restaurant consumer. In contrast, sector valuations are near cyclical peaks (~22x NTM P/E), leaving us concerned about relative and absolute perf. for the group into earnings season. Also, an extended govt. shutdown would likely cause some further retrenchment in restaurant spending. Maintain defensive bias. Reiterate Buys on MCD (franchise income on the cheap) and BWLD (favorable margin outlook protects EPS).”

Starbucks Corporation closed on Friday at $77.40.

Latest Ratings for SBUX

DateFirmActionFromTo
Oct 2016RBC CapitalMaintainsOutperform
Sep 2016WedbushMaintainsOutperform
Sep 2016CLSAMaintainsBuy

View More Analyst Ratings for SBUX
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Jason WeateAnalyst Color Price Target Analyst Ratings

 

Related Articles (SBUX)

View Comments and Join the Discussion!