Starbucks Coffee (SBUX): Cutting Comps To 4% From 5%, Reducing PT - Wedbush
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Wedbush analyst, Nick Setyan, reiterated his Outperform rating on shares of Starbucks (NASDAQ: SBUX) but cut his price target to $65.00 from $70.00 after recent checks of 5% of U.S. company-owned locations point to 4% Americas comp growth in FQ4. Though below 5% consensus the analyst thinks 4% is largely in line with buy-side expectations.
The analyst cut FQ4 and FY17 North American comp assumptions to 4% from 5% which has the effect of reducing the PT to $65 from $70.
Shares of Starbucks closed at $54.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Citizens Financial Group (CFG) Following 3Q EPS Beat
- UPDATE: Seaport Global Securities Starts Union Pacific (UNP) at Buy
- Jefferies Raises Price Target on FMC Technologies (FTI) After Adjusting Estimates
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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!