Starbucks (SBUX) Stock Price Target Raised at Barclays
NEW YORK (TheStreet) -- Barclays raised its price target on Starbucks (SBUX) - Get Reportto $59 from $54 on Monday. The firm maintained its "equal weight" rating on the stock.
Last week, the Seattle-based coffee retailer reported 2015 fourth quarter earnings of 43 cents per share on revenue of $4.91 billion. Analysts had estimated for earnings of 43 cents per share on revenue of $4.9 billion.
"How many brands, with a market cap approaching $100 billion, are still growing both world-wide comps & units at a high-single-digit pace, supporting double-digit revenue growth, and 15-20% annual EPS growth?" Barclays said. "We are aware of one."
Starbucks also has significant growth opportunities in China and for its consumer packaged goods business, the firm added.
Shares of Starbucks were down by 0.32% to $62.37 in mid-morning trading on Monday.
Separately, TheStreet Ratings team rates STARBUCKS CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
We rate STARBUCKS CORP (SBUX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, growth in earnings per share, increase in net income and notable return on equity. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
You can view the full analysis from the report here: SBUX
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