UBS has decided to maintain its Neutral rating of Starbucks SBUX and raise its price target from $82.00 to $87.00.
Shares of Starbucks are trading up 3.14% over the last 24 hours, at $86.34 per share.
A move to $87.00 would account for a 0.76% increase from the current share price.
Starbucks is one of the most widely recognized restaurant brands in the world, operating nearly 34,000 stores across more than 80 countries as of the end of fiscal 2021. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.
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