In a report released yesterday, Peter Saleh from BTIG reiterated a Buy rating on Starbucks (SBUX – Research Report), with a price target of $130.00. The company’s shares closed last Thursday at $122.75, close to its 52-week high of $126.32.
According to TipRanks.com, Saleh is a 5-star analyst with an average return of 24.7% and a 76.2% success rate. Saleh covers the Services sector, focusing on stocks such as Papa John’s International, Texas Roadhouse, and Domino’s Pizza.
Starbucks has an analyst consensus of Moderate Buy, with a price target consensus of $133.57, representing an 8.7% upside. In a report issued on July 16, Oppenheimer also maintained a Buy rating on the stock with a $140.00 price target.
Based on Starbucks’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $7.5 billion and net profit of $1.15 billion. In comparison, last year the company earned revenue of $4.22 billion and had a GAAP net loss of $678 million.
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Founded in 1985, Starbucks Corp. is a Washington-based roaster and retailer of specialty coffee, with over 30,000 stores in 80 markets. It operates through three segments, including Americas, International and Channel Development. Starbucks stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, food items such as pastries, sandwiches, salads, oatmeals, as well as a variety of merchandise. The company’s leading brands include Evolution Fresh, Teavana, Tazo Tea and Seattle’s Best.