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Wedbush Maintains a Hold Rating on Starbucks (SBUX)

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Wedbush analyst Nick Setyan maintained a Hold rating on Starbucks (SBUXResearch Report) on April 29 and set a price target of $81.00. The company’s shares closed last Friday at $74.64, close to its 52-week low of $74.48.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 6.4% and a 46.2% success rate. Setyan covers the Services sector, focusing on stocks such as Papa John’s International, The ONE Group Hospitality, and Brinker International.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Starbucks with a $105.18 average price target, implying a 38.4% upside from current levels. In a report issued on April 14, Morgan Stanley also maintained a Hold rating on the stock with a $94.00 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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