Increased Confidence in Starbucks (SBUX) after Presentation - Jefferies

June 19, 2013 7:47 AM EDT
Get Alerts SBUX Hot Sheet
Price: $58.45 +0.78%

Rating Summary:
    28 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Jefferies reiterated a Buy rating and $66 price target on Starbucks (NASDAQ: SBUX) following yesterday's presentation at the Jefferies 2013 Global Consumer Conference. The firm has increased confidence in the company's long-term prospects.

"CFO Troy Alstead and VP Investor Relations JoAnn DeGrande presented at our 2013 conference, and we came away with increased confidence in SBUX's LT growth prospects," analyst Andy Barish notes. "Management highlighted the SBUX's post-recession transition to a more diversified growth strategy, and outlined key retail initiatives as well as the growing channel development opportunity. We think SBUX has the best visibility in large-cap growth; maintain Buy."

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 $67.10 yesterday.

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