Results of Starbucks Consumer Panel Implies 7% FQ1 SSS Growth - UBS

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A UBS consumer panel analysis implies Starbucks (NASDAQ: SBUX) F1Q same-store-sales growth of 7 percent. The panel has shown a greater than 90 percent correlation to same-store-sales growth. In response to positive result, along with forecasts for continuing sales momentum, analysts raised their price target on the stock to $64 from $59.

"Our new $64 price target reflects our view that sales momentum is continuing - inching our base case somewhat closer to our previous upside scenario. For FY13E we now model Americas SSS growth of 6.5% (5% prior) and CPG revenue growth of 30% (20% prior)," said analyst.

UBS has a Buy rating on Starbucks.

For an analyst ratings summary and ratings history on Starbucks (NASDAQ: SBUX) click here. For more ratings news on Starbucks click here.

Shares of Starbucks closed at $54.54 yesterday, with a 52 week range of $43.04-$62.00.

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