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Jefferies Boosts Price Target On Starbucks (SBUX) to $53

January 27, 2012 8:27 AM EST
Get Alerts SBUX Hot Sheet
Price: $91.39 -0.12%

Rating Summary:
    21 Buy, 25 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies raised its price target on Starbucks (NASDAQ: SBUX) from $50 to $53 following Q1 beat and raise.

The firm comments, "1Q EPS $0.50 (+11%) beat our $0.48/cons. $0.49, as retail SSS & CPG rev growth offset significant coffee cost headwinds. Stock could be down as EPS upside was only modest, but we would be buyers on any weakness as mgmt. continues to deliver on its biz model. F12 guide narrowed toward high-end, and we see 20%+ EPS growth as sales drivers, CPG growth & accelerated development offset cost pressures. PT to $53 (fr. $50)."

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 $48.34 yesterday.


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