Jefferies Lifts Target on Starbucks (SBUX) to $67 After Q2

Jefferies boosted its price target on Starbucks (NASDAQ: SBUX) from $62 to $67 following Q2 results.

The firm comments, "F2Q EPS $0.40 vs our $0.38/cons $0.39, as coffee infl again offset by +7% SSS & CPG growth. Stock may be down bc upside from other income, but F2H EPS to be +25-30% on lower coffee infl/product innov. F12 EPS guide raised to $1.81-1.84 (fr $1.78-$1.82); our ‘12/13 ests. stay $1.85/2.35. Valuation near hist. avg, but given SSS drivers & easing cost pressures, we find SBUX attractive & would buy on a pullback. PT $67 fr $62."

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 $60.66 yesterday.

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