Wall Street Remains Bullish on Starbucks Following Q2 Earnings

Wall Street analysts are sharing their views on Starbuck's

Deutsche Bank analyst Jason West believes the stock is “likely to respond favorably to these results,” given the “broader backdrop of weather-driven misses and SBUX's share price underperformance YTD.” -- Buy rating, $84 price target. Wells Fargo analyst Bonnie Herzog “continues to be impressed with SBUX's ability to deliver results and believes the future for the company remains very bright,” based on:

-- Outperform rating, $89-91 valuation range. Oppenheimer analyst Brian Bittner believes the impressive 6 percent comp number, which was above the 4-5 percent analyst estimates, “should provide the stock much better support than experienced year-to-date.” -- Outperform rating, $86 price target. Longbow analyst Alton Stump remains confident “the company can generate 5-7 percent same store sales growth in the U.S. over the next 24 months.” -- Buy rating, $94 price target. Starbucks remains Jefferies analyst Andy Barish's “favorite large-cap stock,” and sees “potential for upside as consumers accept SBUX's entrance into expanded food & daypart platforms and the company finds new ways to lever its digital assets.” -- Buy rating, $84 price target. Shares of Starbucks are up 0.46 percent to $71.41.