Oppenheimer Reiterates Starbucks (SBUX) As a Top Pick After Earnings
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Oppenheimer analyst Brian Bittner reiterated an Outperform rating and $122.00 price target on Starbucks (NASDAQ: SBUX) after the company reported a 1Q20 beat that reinforces the view for EPS upside.
The analyst is more positive on guidance than others, stating "we view 2Q20's tempered earnings outlook as conservative (EPS $0.45-0.50 vs. Street's $0.60)." He went on to state "SBUX is positioned as a top pick on improving visibility into a powerful sales, margin and earnings power thesis."
Shares of Starbucks closed at $101.70 yesterday.
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