Why Starbucks Stock Is Heating Up Today

Why Starbucks Stock Is Heating Up Today

Starbucks Corp SBUX shares are trading higher Wednesday after multiple analysts raised price targets on the stock following the company's investor day presentation. 

Starbucks showcased its reinvention plan on Tuesday, which aims to position the company for its next stage of growth. The company announced that it expects to deliver net revenue growth between 10% and 12% and net earnings growth between 15% and 20% annually over the next three years. 

  • Wedbush analyst Nick Setyan maintained Starbucks with a Neutral rating and raised the price target from $86 to $92.
  • Barclays analyst Jeffrey Bernstein maintained Starbucks with an Overweight rating and raised the price target from $96 to $100.
  • Baird analyst David Tarantino maintained Starbucks with a Neutral rating and raised the price target from $86 to $94.
  • JP Morgan analyst John Ivankoe maintained Starbucks with an Overweight rating and raised the price target from $92 to $100.

Related Link: Going To A Starbucks Is Hard. Luckily, DoorDash Is Going Nationwide With Coffee Delivery

SBUX Price Action: Starbucks has a 52-week high of $117.80 and a 52-week low of $68.39.

The stock was up 5.28% at $92.46 at time of publication, according to Benzinga Pro.

Photo: sahinsezerdincer from Pixabay.

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