Starbucks Corporation (NASDAQ:SBUX) Has Just Had Its Target Price Upgraded by Investment Analysts at Citigroup to $71.00

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Stock Analysis:Starbucks Corporation (NASDAQ:SBUX) Target Raised

In a recent report announced by Citigroup on Wednesday morning, Starbucks Corporation (NASDAQ:SBUX) had its PT boosted to $71.00. The firm presently has a solid Buy rating on shares.

From a total of 23 analysts covering Starbucks Corporation (NASDAQ:SBUX) stock, 24 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 86% of the ratings are positive. The highest target price is $77 while the lowest target price is $56. The mean of all analyst targets is $68 with a 4.76% above today’s ($61.53) stock price. Starbucks Corporation was the topic of 12 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. BMO Capital Markets maintained shares on October 30 with “Outperform” rating. Zacks upgraded shares to “Hold” rating and $59 target share price in a report from an August 24. RBC Capital Markets maintained SBUX stock in a recent report from October 30 with “Outperform” rating. Finally, Vetr downgraded the stock to “Buy” rating in a report issued on a September 3.

Approximately 732,561 shares of stock traded hands. Starbucks Corporation (NASDAQ:SBUX) has risen 21.16% since April 29, 2015 and is uptrending. It has outperformed by 21.37% the S&P500.

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The company has a market cap of $91.37 billion. The Firm purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It has 33.77 P/E ratio. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

According to Zacks Investment Research, “Starbucks Corporation purchases and roasts high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related equipments primarily through its company-operated retail stores. In addition to sales through its company-operated retail stores, Starbucks sells whole bean coffees through a specialty sales group and supermarkets. Additionally, Starbucks produces and sells bottled Frappuccino coffee drink and a line of premium ice creams through its joint venture partnerships and offers a line of innovative premium teas produced by its wholly owned subsidiary, Tazo Tea Company. The company’s objective is to establish Starbucks as the most recognized and respected brand in the world.” Get a free copy of the Zacks research report on Starbucks Corporation (SBUX).

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