Analyst Buzz Heats Up Starbucks Shares
UBS analyst raised the rating of Starbucks (NASDAQ: SBUX) from Neutral to Buy and raised the price target from $80.00 to $87.00.
UBS noted that the stock offers a “compelling” entry with “limited downside risk.” The firm emphasized that Starbucks is a top long-term global growth opportunity among consumer multinationals. The company has “good sales, earnings visibility and optionality around out-year initiatives.”
Shares of Starbucks closed at $75.56 on Wednesday. The stock is currently trading at $77.25, up 2.237 percent.
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