Goldman Sachs Maintains a 'Buy' on Starbucks (SBUX); K-Cup Sales Hit All Time High; Verismo Next Boost
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Price: $103.99 --0%
Rating Summary:
26 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Rating Summary:
26 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
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Goldman Sachs maintains a 'Buy' on Starbucks (NASDAQ: SBUX) price target of $57.00.
Analyst, Michael Kelter, sees this morning's Nielsen data as a positive on shares of SBUX, citing total K-cup sales for the industry/SBUX, hitting new highs ($123.4M/$17.4M). The report factored in Starbucks maintaining 14% market share.
Kelter's primary takeaways were: 1) 10% jump in sales vs. flat for past three months; 2) SBUX K-cups hitting a new all-time high; and 3) Expect SBUX's market share in U.S. to move up again this fall with the launch of Verismo system.
Goldman didn't cite any data on Green Mountain Coffee (Nasdaq: GMCR), but, considering GMCR is the current leader in the K-Cup industry, all-time high sales should be positive news (shares are up 2%). Also, three days ago, Lavazza disclosed that it had raised it's stake in GMCR to 6.78%.
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 $51.17 yesterday.
Analyst, Michael Kelter, sees this morning's Nielsen data as a positive on shares of SBUX, citing total K-cup sales for the industry/SBUX, hitting new highs ($123.4M/$17.4M). The report factored in Starbucks maintaining 14% market share.
Kelter's primary takeaways were: 1) 10% jump in sales vs. flat for past three months; 2) SBUX K-cups hitting a new all-time high; and 3) Expect SBUX's market share in U.S. to move up again this fall with the launch of Verismo system.
Goldman didn't cite any data on Green Mountain Coffee (Nasdaq: GMCR), but, considering GMCR is the current leader in the K-Cup industry, all-time high sales should be positive news (shares are up 2%). Also, three days ago, Lavazza disclosed that it had raised it's stake in GMCR to 6.78%.
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 $51.17 yesterday.
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