UPDATE: Goldman Sachs Upgrades Starbucks; Raises PT
According to a research report published earlier this morning, Goldman Sachs has upgraded Starbucks (NASDAQ: SBUX) from Neutral to Buy, and has increased PT from $49 to $66.
In the report, Goldman Sachs commented, “We upgrade SBUX shares to Buy from Neutral and add the stock to the Americas Conviction List as we believe the company is poised to enter a renewed growth phase that may see more than a doubling of EPS by 2015. Our view on SBUX has lagged that of the market; however, we believe the company's resurgence is still in its very early stages and we are well above consensus in the coming years.”
Starbucks closed yesterday at $55.89.
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