Starbucks Shares Could Gain as Much as 16% This Year
Starbucks shares could surge this year, according to an analyst who says the company is his No. 1 stock pick for 2017.
Starbucks (SBUX) - Get Report is the No. 1 stock pick for 2017 for one analyst. Nomura's Mark Kalinowski says in a report on Wednesday that Starbucks will soon overtake McDonald's (MCD) - Get Report as the world's biggest, most valuable restaurant chain.
Kalinowski believes Starbucks' earnings per share will grow by 12% this year, as the company continues to add new locations. As far as its stock price, Kalinowksi predicts Starbucks shares will rise by as much as 16% before the end of the year. The coffee giant's shares fell more than 7.5% in 2016.
