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Fly News Breaks for February 28, 2020
SBUX
Feb 28, 2020 | 08:04 EDT
MKM Partners analyst Brett Levy says he still likes Starbucks stock from a long-term perspective based on its strategy, operations and business model, in spite of its 12% pullback over the last 10 days. The analyst is keeping his Buy rating and $105 price target, citing the reports of about 85% of the company's China store reopening and the number of coronavirus cases slowing in the region. Levy further cites the company's launch of instant product internationally, expanded ready-to-drink offerings, and K-Cups production plans.
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