Wells Fargo Believes Starbucks (NASDAQ: SBUX) Won’t Stop Here

Wells Fargo analyst Jon Tower maintained a Buy rating on Starbucks (SBUXResearch Report) today and set a price target of $129.00. The company’s shares closed last Wednesday at $112.49, close to its 52-week high of $118.98.

According to TipRanks.com, Tower is a 5-star analyst with an average return of 26.7% and a 85.9% success rate. Tower covers the Services sector, focusing on stocks such as Restaurant Brands International, Dave & Busters Entertainment, and Brinker International.

Currently, the analyst consensus on Starbucks is a Moderate Buy with an average price target of $124.40, a 9.7% upside from current levels. In a report issued on April 13, Argus Research also maintained a Buy rating on the stock with a $132.00 price target.

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Starbucks’ market cap is currently $136.7B and has a P/E ratio of 206.20. The company has a Price to Book ratio of -11.42.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SBUX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.