BofA Securities Resumes Starbucks (SBUX) at Buy

BofA Securities analyst Sara Senatore resumes coverage on Starbucks (NASDAQ: SBUX) with a Buy rating and a price target of $135.00.

The analyst comments "We reinstate coverage on Starbucks (SBUX) with a Buy rating and $135 PO. Growth in the specialty coffee segment continues to outpace that of overall foodservice globally and in the US. And yet despite the attractive growth, few concepts have been able to achieve any meaningful scale; the result is significant scale advantages and supra-competitive returns for those chains that have them, Starbucks included. Given the size of SBUX’s US system, we think the impact of smaller concepts (even those with high growth) will be limited in the near term."

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 $111.22 yesterday.

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