Goldman Positive Coverage on Starbucks (SBUX)
Tweet Send to a FriendGet Alerts SBUX Hot Sheet
Price: $66.03 +0.66%
Rating Summary:
18 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
18 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade SBUX Now!
Starbucks (NASDAQ: SBUX) recently held its biannual investor day in New York. Commenting on the event, analyst Michael Kelter of Goldman Sachs said, "We come away with continued confidence in our Conviction Buy call on the shares. We see SBUX as well-positioned looking forward with several meaningful drivers of growth."
"All in, we see the potential for SBUX to double EPS over the next 3-4 years and expect that the shares would follow," continued Kelter.
He sees plenty of room for renewed U.S unit growth, and thinks China is starting to hit critical mass. Single serve should help dive EPS growth going forward, and coffee deflation should be a tailwind to earnings.
Goldmans see fiscal 2013-2015 EPS at $2.18/$2.73/$3.35.
Goldman Sachs has a Conviction Buy rating on Starbucks (NASDAQ: SBUX) with a price target of $62.00.
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 $50.79 yesterday, with a 52 week range of $42.67-$62.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
"All in, we see the potential for SBUX to double EPS over the next 3-4 years and expect that the shares would follow," continued Kelter.
He sees plenty of room for renewed U.S unit growth, and thinks China is starting to hit critical mass. Single serve should help dive EPS growth going forward, and coffee deflation should be a tailwind to earnings.
Goldmans see fiscal 2013-2015 EPS at $2.18/$2.73/$3.35.
Goldman Sachs has a Conviction Buy rating on Starbucks (NASDAQ: SBUX) with a price target of $62.00.
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 $50.79 yesterday, with a 52 week range of $42.67-$62.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Citi Raises PT on Micron Technology (MU) to $19
- AK Steel (AKS) Q2 Miss Expected; Goldman Maintains Sell
- AMA Proposal 409 Contains No New Info, Monster Beverage (MNST) Sell-Off 'Overdone'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Goldman Sachs Conviction Buy List, Goldman Sachs, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
