Credit Suisse Keeps Starbucks (SBUX) at 'Neutral'; Tight Valuation Leaves Little Room for Error

Credit Suisse reaffirmed Starbucks (Nasdaq: SBUX) with a Neutral rating and $61 price target following Q1 results.

The firm commented: Overall, Starbucks valuation leaves limited room for error. Our $61 PT assumes ~31x NTM P/E, above Starbucks's 5-yr avg. of ~25x, which gives the co. credit for industry-leading SSS and multiple levers to growth. Amidst a skittish market backdrop, we'd prefer to wait for a more significant pullback before getting more positive.

For an analyst ratings summary and ratings history on Starbucks click here. For more ratings news on Starbucks click here.

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• AvidBank Holdings Inc. (AVBH) PT Lowered to $23 at Piper Sandler
• Starbucks (SBUX) PT Lowered to $91 at Guggenheim