Starbucks (SBUX) Bullish Stance Reiterated at Piper Jaffray On 'The Next Layer' Thesis

Piper Jaffray analyst Nicole Miller Regan reiterated an Overweight rating and $90 price target on Starbucks (NASDAQ: SBUX) based on the firm's €œ'The Next Layer'€ thesis, which suggests the restaurant space remains investabe with the recipe for success = brand equity + asset-light growth + license opportunities.

Regan comments, "For Starbucks, potential catalysts including strong global trends at retail coffeehouses, growing market share in the high-margin channel development business, and the opportunity for increased cash being returned to shareholders. Starbucks remains our top large cap pick."

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 $77.67 yesterday.

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