Cowen & Co. Thinks Starbucks’ Stock is Going to Recover

In a report issued on March 16, Andrew Charles from Cowen & Co. maintained a Buy rating on Starbucks (SBUXResearch Report), with a price target of $115.00. The company’s shares closed last Friday at $81.52, close to its 52-week low of $78.92.

According to TipRanks.com, Charles is a 5-star analyst with an average return of 13.0% and a 61.8% success rate. Charles covers the Services sector, focusing on stocks such as Restaurant Brands International, First Watch Restaurant Group, and Jack In The Box.

Starbucks has an analyst consensus of Moderate Buy, with a price target consensus of $112.95, which is a 35.8% upside from current levels. In a report issued on March 17, Jefferies also maintained a Buy rating on the stock with a $130.00 price target.

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The company has a one-year high of $126.32 and a one-year low of $78.92. Currently, Starbucks has an average volume of 9.4M.

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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.

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