Wedbush Raises Price Target on Starbucks Coffee (SBUX) to $70 Following 3Q15

Wedbush reiterated an Outperform rating on Starbucks (NASDAQ: SBUX), and raised the price target to $70.00 (from $64.00), following 3Q15. EPS of $0.42 was above $0.41 consensus. Raised FY15 guidance now calls for non-GAAP EPS of $1.57-1.58, up from $1.55-1.57 previously.

Analyst Nick Setyan commented, "Expect continued Americas comp outperformance, accelerating CAP unit growth, a successful EMEA turnaround, and multiple CPG and emerging market opportunities to result in upside to FY15 expectations."

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 $56.56 yesterday.

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