Deutsche’s Brian Mullan upgraded SBUX this morning to “buy” with a price target of $127 that represents a 12% upside from here.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
BofA’s Sara Senatore, on the other hand, stuck an even higher $135 price target on the stock citing Starbucks was among the few that “built scale and derived supra-competitive returns”.
Terranova’s remarks on CNBC’s “Halftime Report”
Virtus Investment Partners’ Joe Terranova agreed to the bullish call on CNBC’s “Halftime Report” despite more challenges ahead. He said:
There is a difficult road ahead related to the slowdown in China and economic growth. That’s why the stock has underperformed since July. But I’m expecting to hear some encouraging guidance in that regard. So, I’m going to stay with the position.
Other reasons why he likes Starbucks included his confidence in Kevin Johnson’s leadership.
Why Jim Lebenthal likes Starbucks
During the same interview, Cerity Partners’ Jim Lebenthal, who also owns the stock, reiterated that the consolidation phase in recent months did not see SBUX lose investor sentiment. He added:
I think investor sentiment is quite good. As long as they don’t have missteps in execution, they’ll continue to march to higher multiples. It’s amazing the experience that they’re producing for customers.
The outlook, however, contrasts how MKM Partners’ JC O’Hara sees Starbucks. Last month, O’Hara said it was hard for him to like the technical setup in SBUX.
67% of retail CFD accounts lose money
- T20 World Cup: Top 5 India performances | Cricket News – Times of India
- Ishaan visits Ananya’s home with flowers; trolls say it’s to ensure she doesn’t name him in drugs case
- uzbekistan: Uzbek president heading toward landslide win in elections – Times of India
- China passes new land border law amid military standoff with India – Times of India
- Masters champion Matsuyama wins by 5 shots in Japan
- cpec: US sabotaging China-Pakistan Economic Corridor: Pakistan PM’s aide – Times of India