Oppenheimer Upgrades Starbucks (SBUX) to Outperform, Downgrades McDonald's (MCD)
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Price: $64.11 +0.44%
Rating Summary:
18 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 22
Rating Summary:
18 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 22
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Oppenheimer upgraded Starbucks (NASDAQ: SBUX) from Perform to Outperform with a price target of $56, while downgrading McDonald's (NYSE: MCD) from Outperform to Perform.
The firm prefers SBUX with a 1.3x PEG that is a sizable discount to MCD's and a multi-channel earnings model that possesses greater operating leverage and more compelling avenues for outsized growth.
"In our view, SBUX has numerous layers that could drive F2013 EPS power above current expectations and support multiple expansion."
On McDonald's, the firm said while MCD is still a best-in-class operator and they don't see a material change in fundamentals, the potential for upward EPS revisions appears limited.
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 $47.65 yesterday, with a 52 week range of $30.75-$48.39.
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The firm prefers SBUX with a 1.3x PEG that is a sizable discount to MCD's and a multi-channel earnings model that possesses greater operating leverage and more compelling avenues for outsized growth.
"In our view, SBUX has numerous layers that could drive F2013 EPS power above current expectations and support multiple expansion."
On McDonald's, the firm said while MCD is still a best-in-class operator and they don't see a material change in fundamentals, the potential for upward EPS revisions appears limited.
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 $47.65 yesterday, with a 52 week range of $30.75-$48.39.
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