Jefferies Boosts Numbers on Starbucks (SBUX) On Lower Coffee Prices

Article Stock Quotes (1) Comments (0)

Jefferies raised estiamtes its price target on Starbucks (NASDAQ: SBUX) from $53 to $62 citing lower coffee costs in 2013. The firm maintained their Buy rating.

The firm comments, "Although valuations are near historical averages, the potential gross margin improvements from lower coffee costs in 2013, along with positive fundamentals, lead us to raise estimates & target prices and continue to have a favorable view of the specialty coffee category."

FY12 EPS goes up from $1.84 to $1.85 and FY13 goes from $2.25 to $2.35

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 $55.21 yesterday, with a 52 week range of $33.72-$55.25.

---

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

• Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
• RBC Capital Lifts PT on Marvell (MRVL) after 'Strong' Q1 Report
• Needham & Company Boosts Numbers on Infoblox (BLOX) on Strong Q3

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Jefferies & Co

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?