Deutsche Bank Cuts Estimates and PT on Starbucks (SBUX); U.S. Traffic Decelerates

July 27, 2012 7:02 AM EDT Send to a Friend
Get Alerts SBUX Hot Sheet
Price: $74.60 +0.32%

Rating Summary:
    25 Buy, 4 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 24
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Deutsche Bank maintains a 'Buy' on Starbucks (NASDAQ: SBUX) price target of $55.00 (from $62.00).

Deutsche analyst said, "Despite some recent moderation in US SSS, we continue to believe FY13 EPS guidance is achievable (if not a bit conservative), assuming the US economy doesn’t see further material deterioration in coming months. Accelerating unit growth, still-decent SSS, and lower commodities should support strong EPS growth in FY13. Further, FY14 sets up well given likely greater commodity benefit and flow-thru to profits. With the stock indicated at 21x our new CY13E EPS of $2.23, we are staying at a Buy."

FY12/FY13 EPS estimates go to $1.77/$2.14 from $1.82/$2.25.

For an analyst ratings summary and ratings history on Starbucks click here. For more ratings news on Starbucks click here.

Shares of Starbucks closed at $52.41 yesterday.


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