Starbucks Coffee (SBUX): Cutting PT But Near Term SSS Looks Strong - RBC
- Dow, S&P hit highs; Trump comment hammers drug stocks
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
RBC Capital analyst, David Palmer, reiterated his Outperform rating on shares of Starbucks (NASDAQ: SBUX) but cut his price target to $64 from $68. Despite cutting the price target on slightly lower SSS growth estimates in FY17, he is retaining his 5% SSS estimate for F4Q16 due to results from a proprietary consumer panel which implies 4-6% SSS growth near term.
In short, the analyst sees the company as a good risk/reward at 25x projected FY17 EPS with a PEG ratio of ~1.5x on long-term growth of 17%.
Shares of Starbucks closed at $52.61 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- UPDATE: Seaport Global Securities Starts Owens Corning (OC) at Buy
- KLR Group Raise Price Target on Oasis Petroleum (OAS) to $22; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital
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!