Wednesday morning Starbucks SBUX shares are trading up on no specific news. However, buried within various notes from sell-side analysts this morning are some bullish charts highlighting pockets of strength for the coffee maker.
To start, Bernstein has a note that shows the relative strength in Starbucks' YoY Share Change in Ground Coffee on a rolling 3-month basis:
When it comes to the strength in YoY sales growth of ground coffee, Stabucks trumps the peer group according to Bernstein:
In a note from Baird that was focusing on McDonald's MCD the firm shared a chart that highlighted the bullish expectation for Starbucks' FY2016 EPS growth:
Finally, from a note on June 27th, Credit Suisse's team reviewed exposure some food names have to the UK and European economies. Within the note were a couple charts that showed the lacking exposure Starbucks has to the region, which is a benefit for the company given the uncertainty and concern over what Britain will do regarding leaving/remaining within the European Union:
Starbucks shares are trading up mid-morning Wednesday to $56.20, up about $1.33 or roughly 2.40 percent.
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