Wells Fargo Maintains a 'Market Perform' on Starbucks (SBUX); Cutting Numbers on A Moderating Growth Story
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Price: $107.69 -0.79%
Rating Summary:
26 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
26 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo maintains a 'Market Perform' on Starbucks (NASDAQ: SBUX) price target range of $47-$49 (from $51-$53)
Analyst, Bonnie Herzog, said, "While Q3 came in slightly below guidance, outlook for the remainder of FY2012 and FY2013 reflects a moderation of current expectations, clearly disappointing to investors. Tempered outlook was attributed primarily to a slowdown in the US which started in the latter half of June...CAP growth continues to be robust and EMEA seems to be on somewhat more stable footing. Channel Development trends remain strong. We lower FY2012/FY2013 to $1.78/$2.06 from $1.82/$2.26, reflecting the tempered outlook."
Herzog lowers FY13 same-store sales estimates to 5% in the Americas, 1.5% in EMEA and 11.5% in CAP. She sees coffee costs being a tailwind into FY14.
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.
Analyst, Bonnie Herzog, said, "While Q3 came in slightly below guidance, outlook for the remainder of FY2012 and FY2013 reflects a moderation of current expectations, clearly disappointing to investors. Tempered outlook was attributed primarily to a slowdown in the US which started in the latter half of June...CAP growth continues to be robust and EMEA seems to be on somewhat more stable footing. Channel Development trends remain strong. We lower FY2012/FY2013 to $1.78/$2.06 from $1.82/$2.26, reflecting the tempered outlook."
Herzog lowers FY13 same-store sales estimates to 5% in the Americas, 1.5% in EMEA and 11.5% in CAP. She sees coffee costs being a tailwind into FY14.
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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