Starbucks Corp (SBUX) Receives a Hold from Wedbush


Wedbush analyst Nick Setyan maintained a Hold rating on Starbucks Corp (SBUX) today and set a price target of $64. The company’s shares closed yesterday at $66.91, close to its 52-week high of $68.98.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 5.6% and a 58.8% success rate. Setyan covers the Services sector, focusing on stocks such as Del Taco Restaurants, Jack In The Box Inc, and Cheesecake Factory.

Starbucks Corp has an analyst consensus of Moderate Buy, with a price target consensus of $67.89, which is a 1.5% upside from current levels. In a report issued on December 7, Barclays also maintained a Hold rating on the stock with a $65 price target.

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Based on Starbucks Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $756 million. In comparison, last year the company earned revenue of $5.7 billion and had a net profit of $789 million.

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development.

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