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Starbucks (SBUX) Receives a Buy from Wedbush

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In a report released today, Nick Setyan from Wedbush maintained a Buy rating on Starbucks (SBUXResearch Report), with a price target of $105.00. The company’s shares closed last Wednesday at $87.41.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 8.1% and a 48.9% success rate. Setyan covers the Services sector, focusing on stocks such as The ONE Group Hospitality, Papa John’s International, and Brinker International.

Starbucks has an analyst consensus of Moderate Buy, with a price target consensus of $116.17, a 32.0% upside from current levels. In a report released yesterday, J.P. Morgan also upgraded the stock to Buy with a $101.00 price target.

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Based on Starbucks’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $8.05 billion and net profit of $816 million. In comparison, last year the company earned revenue of $6.75 billion and had a net profit of $622 million.

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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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