UBS Maintains a 'Buy' on Starbucks (SBUX); Raising Numbers on Strong Multi-Channel Growth

UBS maintains a 'Buy' on Starbucks (NASDAQ: SBUX) price target raised from $47 to $52.

UBS analyst says, "We are increasing our EPS estimates and price target due to stronger than expected same store sales (SSS) momentum and strong early acceptance of Starbucks K-cups...For F1Q12, we are increasing our EPS estimate from $0.50 to $0.51(+13% YOY; cons. $0.48) to reflect our new 9% US SSS growth and 40% CPG revenue growth estimate."

"Our FY12 and FY13 EPS estimates increase to $1.89 (+24% YOY) and $2.40 (+27% YOY) from $1.88 and $2.34 respectively. We are increasing our F1Q US SSS growth estimate to 9%, based on our proprietary consumer panel."

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 $47.12 yesterday.

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