RBC Capital Remains Bullish on Starbucks Coffee (SBUX) Following In-Line 2Q Results

RBC Capital reiterated an Outperform rating and $68.00 price target on Starbucks Coffee (NASDAQ: SBUX) following the company's 2Q earnings report. EPS was $0.39, in-line with the Street's estimate. Despite lower sales growth outside the Americas segment, profit growth across the company's major segments was also largely in-line with estimates.

Analyst David Palmer commented, "We are maintaining our EPS estimates and reiterating our $68 price target and Outperform rating following in-line F2Q results. We believe that long-term sustainability of growth is increasing with investments in wages and technology."

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 $60.64 yesterday.

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