NEW YORK (TheStreet) -- Shares of Starbucks (SBUX) were up 1.18% to $82.27 in pre-market trading on Friday after JP Morgan increased its price target on the stock to $89 from $82 and maintained its "overweight" rating.
The firm noted the duration for the stock's 15% to 20% earnings per share growth has expanded after the company's analyst day, and the stock fits JP Morgan's long-term core growth investment profile.
The first Starbucks Reserve Roastery and Tasting Room, an upscale version of the standard Starbucks establishment, opens on Pike Street in Seattle on Friday. The opening is part of Starbucks' plan to open upscale cafes in more than 100 worldwide locations in the next five years.
Separately, TheStreet Ratings team rates STARBUCKS CORP as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate STARBUCKS CORP (SBUX) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."