Shares of Starbucks Corporation SBUX lost 4.88 percent last Friday, after the company reported in-line second quarter earnings, but missed expectations on the revenue front. However, the crowd remains bullish on the stock, and seems to believe that the decline only unlocked further upside potential.
Related link: Here's How Crowdsourced Ratings Can Beat The Market
On Monday, top raters at the Vetr community decided to upgrade their rating on shares of Starbucks from 4.0 Stars to 4.5 Stars -- out of a possible 5.0 Stars rating. The new rating better reflects the crowd’s average price target of $66.21, which implies an upside potential of roughly 14.5 percent from current valuations.
Finally, it should be noted that 94 percent of the crowd's ratings are now bullish.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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