Starbucks (SBUX) PT Raised to $115 at Jefferies

Jefferies analyst Andy Barish raised the price target on Starbucks (NASDAQ: SBUX) to $115.00 (from $105.00) while maintaining a Buy rating.

The analyst commented, "In an upbeat biennial investor day, SBUX senior mgmt reiterated the "Growth at Scale"opportunity and bumped up most of the components of its long-term guide, incl EPSgrowth to 10-12% (from at least 10%). Somewhat surprisingly, F22 guided to well above consensus EPS, with at least 20% EPS gains as the business recovers more fully for FYand margins expand. EPS guide implies $3.36+ in out year (consensus $3.28). We raise our ests and PT to $115 (from $105)."

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