Starbucks Coffee (SBUX): Cutting Comps To 4% From 5%, Reducing PT - Wedbush

September 28, 2016 7:06 AM EDT
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Price: $58.00 --0%

Rating Summary:
    27 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 3 | Down: 5 | New: 17
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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.

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 $54.19 yesterday.

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Analyst Comments, Analyst EPS Change, Analyst PT Change

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