Goldman Sachs Upgrades Starbucks (SBUX) to Conviction Buy
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Price: $63.36 -0.25%
Rating Summary:
18 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
18 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SBUX Now!
Goldman Sachs upgraded Starbucks (NASDAQ: SBUX) from Neutral to Conviction Buy with a price target of $66 (up from $49).
The firm said Starbucks is poised to enter a renewed growth phase that may see more than a doubling of EPS by 2015. Specifically, Goldman sees the company posting EPS of $3.50-3.60 by 2015, 15-20% above consensus.
Key drivers for growth will be: Emerging market expansion, Single-serve, Continued US strength and Coffee deflation.
Goldman raised 2012-2014 EPS estimates to $1.86/$2.41/$3.04 from $1.85/$2.30/$2.69.
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 $56.91 yesterday, with a 52 week range of $33.72-$57.17.
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The firm said Starbucks is poised to enter a renewed growth phase that may see more than a doubling of EPS by 2015. Specifically, Goldman sees the company posting EPS of $3.50-3.60 by 2015, 15-20% above consensus.
Key drivers for growth will be: Emerging market expansion, Single-serve, Continued US strength and Coffee deflation.
Goldman raised 2012-2014 EPS estimates to $1.86/$2.41/$3.04 from $1.85/$2.30/$2.69.
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 $56.91 yesterday, with a 52 week range of $33.72-$57.17.
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