Goldman Sachs Resumes Starbucks (SBUX) at Conviction Buy

Goldman Sachs resumes coverage on Starbucks (NASDAQ: SBUX) with a Conviction Buy rating and a price target of $95, saying the stock offers best-in-class growth without the price tag.

"As the least expensive QSR on a PEG basis and with potential upside to F1Q comp trends, we view this as an attractive entry point for the long-term story – the sole concept offering “real food” with QSR-style ubiquity and convenience," analyst Karen Holthouse said.

Holthouse noted the following catalysts: (1) Potential for near-term upside in the US, (2) Combination of convenience and quality driver of long-term AUV upside, (3) Growth algorithm stabilizing, (4) …at the same time the stock has grown into valuation.

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 $83.57 yesterday.

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