BMO Capital Reiterates Outperform Rating on Starbucks (SBUX)

BMO Capital analyst Andrew Strelzik reiterated an Outperform rating and $100.00 price target on Starbucks (NASDAQ: SBUX).

The analyst commented, "SBUX’s FY3Q24 EPS of $0.93 achieved consensus as stronger operating margins and in-line North America performance offset weaker International and higher taxes. SBUX reiterated FY24 guidance and expects sequential improvement in FY4Q revenue/EPS growth and margin pressures relative to FY3Q despite July comp weakness. SBUX also noted beginning to explore strategic partnerships in China. Our EPS estimates change only slightly and our target remains $100. While cyclical challenges likely will continue to weigh on top-line, progress against efficiencies cushions EPS impact and valuation is attractive for eventual comp recovery."

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 $75.94 yesterday.

You May Also Be Interested In

• Stifel Upgrades Shopify (SHOP) to Buy: 'realistic path to 30%-plus revenue growth in 2026'
• Commencement Bank Hires Vice President & SBA Lending Manager, Erin Shannon
• Solaris Energy Infrastructure to Join S&P SmallCap 600