Starbucks (SBUX) - Get Report  stock coverage was initiated at Keybanc with an "overweight" rating and a price target of $68.

Analyst Chris O'Cull said the Seattle-based coffee company has underappreciated growth in China and the Asian Pacific. Paired with high share repurchase activity, Starbucks is on track to grow its earnings per share by about 15% moving forward, he added.

That growth will sustain Starbucks shares' valuation multiple, making it a good addition at its current price of $59.51.

Shares of Starbucks were slightly up in premarket trading.

What's Hot On TheStreet:

Well OK then, Jeff Immelt: General Electric's (GE) - Get Report outgoing CEO Jeff Immelt had some choice things to say at an event in NYC on Thursday night, TheStreet's Kinsey Grant reports. First, Immelt revealed a possibly fatal management mistake Kroger's (KR) - Get Report CEO might have made about Amazon (AMZN) - Get Report who as we all know, just inked a $13.7 billion deal for organic grocer Whole Foods (WFM) . Immelt then took a jab at Hillary Clinton and Barack Obama for not visiting factories in their push to lift manufacturing wages. Talk about a well-paid boss going down swinging.

Why Sears Canada is dying: Sears Canada (SRSC) has one foot in the grave just like its ailing U.S. friend Sears Holdings Corp. (SHLD) . Unfortunately for Sears Canada, it's that friend across the boarder that has played a large role in its demise, TheStreet's Michelle Lodge reports. Sears has sucked badly needed cash away from Sears Canada through the years, leaving it unable to upgrade stores and do other things to compete effectively in the always challenging Canadian retail market.

General Electric and Starbucks are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GE and SBUX? Learn more now.

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