Deutsche Bank Cuts Estimates and PT on Starbucks (SBUX); U.S. Traffic Decelerates
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Price: $103.99 -0.94%
Rating Summary:
26 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
26 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Deutsche Bank maintains a 'Buy' on Starbucks (NASDAQ: SBUX) price target of $55.00 (from $62.00).
Deutsche analyst said, "Despite some recent moderation in US SSS, we continue to believe FY13 EPS guidance is achievable (if not a bit conservative), assuming the US economy doesn’t see further material deterioration in coming months. Accelerating unit growth, still-decent SSS, and lower commodities should support strong EPS growth in FY13. Further, FY14 sets up well given likely greater commodity benefit and flow-thru to profits. With the stock indicated at 21x our new CY13E EPS of $2.23, we are staying at a Buy."
FY12/FY13 EPS estimates go to $1.77/$2.14 from $1.82/$2.25.
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 $52.41 yesterday.
Deutsche analyst said, "Despite some recent moderation in US SSS, we continue to believe FY13 EPS guidance is achievable (if not a bit conservative), assuming the US economy doesn’t see further material deterioration in coming months. Accelerating unit growth, still-decent SSS, and lower commodities should support strong EPS growth in FY13. Further, FY14 sets up well given likely greater commodity benefit and flow-thru to profits. With the stock indicated at 21x our new CY13E EPS of $2.23, we are staying at a Buy."
FY12/FY13 EPS estimates go to $1.77/$2.14 from $1.82/$2.25.
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 $52.41 yesterday.
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