Oppenheimer Maintains Outperform On Starbucks, $86 PT

In a research report issued today, Oppenheimer analyst Brian Bittner maintained an Outperform rating on Starbucks (NASDAQ:SBUX) with a price target of $86.00.

Bittner said, “SBUX has been a range-bound, sleepy laggard all year, but we now take a more aggressive stance. Street’s +5% comp model for ’15 appears beatable as new digital drivers emerge, food initiatives intensify and comparisons ease. Plus, 4Q14 expectations aren’t heroic (10/30 release), dairy/coffee cost fears appear overblown and recent Japan buyout could be nicely accretive to ’15 earnings. And, as high-teens EPS growth sustains, stock would surpass our $86 price target in next 12 months just to hold valuation with recent history.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Brian Bittner has a total average return of 13.9% and a 71.1% success rate. Bittner has a 25.9% average return when recommending SBUX, and is ranked #277 out of 3350 analysts.

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