Goldman Sachs Resumes Coverage On Starbucks Corporation; Adds Company To Americas Conviction List

On Monday, analysts at Goldman Sachs resumed coverage on shares of Starbucks Corporation SBUX with a Buy rating and $95 price target. In addition, the firm added Starbucks to its Americas Conviction List.

Goldman analysts find upcoming catalysts are:

• Near-term upside potential in the U.S.
• Convenience & Quality driver of long-term AUV upside.
• Growth algorithm stabilizing
• The stock has grown into valuation

“Decelerating EPS growth has been an overhang on the multiple; however, with the growth algorithm stabilizing, consensus expectations re-setting to the midpoint of SBUX’s long-term guidance range, and SBUX screening as the least expensive restaurant on a PEG basis, we believe now is an attractive entry point for the long-term growth story.”

Shares of Starbucks Corporation recently traded at $84.07 up 0.6 percent.