UBS Maintains a 'Buy' on Starbucks (SBUX); Decline May Offer Patient Investors Good Opportunity
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Price: $88.10 -0.73%
Rating Summary:
21 Buy, 25 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
21 Buy, 25 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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UBS maintains a 'Buy' on Starbucks (NASDAQ: SBUX) price target of $59.00 (from $61.00).
Analyst, David Palmer, said, "Following F3Q results we are trimming our FY12 and FY13 EPS estimates from $1.84 to $1.78 (+17% YOY) and $2.13 (+20% YOY) respectively. Our FY13 EPS estimate now includes slightly lower same store sales (SSS) growth (5% vs. 5.5% prior) and less robust CPG growth. However we continue to see potential for 20%+ EPS growth over the next 2+ years, even as the company reinvests in new product offerings and channels."
Palmer defends SBUX, saying dip offers opportunity and investors should recognize the company as a long-term grower. However, he'd like to see a pick up from the steady mid-single-digit same-store sales growth in coming months.
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, David Palmer, said, "Following F3Q results we are trimming our FY12 and FY13 EPS estimates from $1.84 to $1.78 (+17% YOY) and $2.13 (+20% YOY) respectively. Our FY13 EPS estimate now includes slightly lower same store sales (SSS) growth (5% vs. 5.5% prior) and less robust CPG growth. However we continue to see potential for 20%+ EPS growth over the next 2+ years, even as the company reinvests in new product offerings and channels."
Palmer defends SBUX, saying dip offers opportunity and investors should recognize the company as a long-term grower. However, he'd like to see a pick up from the steady mid-single-digit same-store sales growth in coming months.
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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