On Thursday, the Vetr crowd downgraded its rating of Starbucks Corporation SBUX from 4.5 stars (strong buy) to 4 stars (buy). Interest in the stock is still high as 90 percent of Vetr crowd's ratings are bullish.
The downgrade comes after some recent tension between the coffee chain and supporters of President-elect Donald Trump. Several news stories and video clips have surfaced showing Trump supports confronting employees.
Prior to that, Starbucks fell short of sales and earnings expectations, especially following the introduction of its rewards program. However, shares have been on the rise in recent weeks, gaining 3.97 percent since November 10 to hit $55.90 today.
See how crowdsourced ratings can help you time the market.
The Vetr crowd's target price for the stock has increased slightly to $61.81, still shy of the average analyst target price of $64.53. More than 2 percent of Vetr users are holding Starbucks in their watchlist.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
