BTIG analyst Peter Saleh raised the firm’s price target on Starbucks to $120 from $110 and keeps a Buy rating on the shares. The analyst is positive on the company’s sales recovery and ramping earnings momentum, noting that its prior momentum is returning as coronavirus disruption fades and customer mobility returns. Saleh also states that store unionization initiative has little impact or leverage with customers as his proprietary survey indicates that they are unlikely to abandon Starbucks or change their habits if a labor agreement is not reached.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on SBUX:
- Starbucks price target raised to $111 from $93 at Citi
- Starbucks price target raised to $114 from $100 at JPMorgan
- DoorDash, Starbucks set to expand delivery partnership nationwide
- Wendy’s downgraded to In Line at Evercore, prefers share gainers
- Starbucks CEO tells employees to return to office 3 days a week, CNBC reports