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SBUX

Starbucks

$64.18

0.32 (0.50%)

09:39
01/11/19
01/11
09:39
01/11/19
09:39

Technical Take: Starbucks falls, analyst action

The stock was last down over 2.3% to $62.68 in early trading. At that price net support is at $62.29, the opening price of the day. Resistance is at $63.21. As previously reported, Goldman Sachs downgraded the name to Neutral and cut its price target from $75 down to $68. BMO Capital trimmed its price target from $63 down to $60.

  • 24

    Jan

SBUX Starbucks
$64.18

0.32 (0.50%)

12/14/18
BMOC
12/14/18
NO CHANGE
Target $63
BMOC
Market Perform
Starbucks price target raised to $63 from $58 at BMO Capital
BMO Capital analyst Andrew Strelzik raised his price target on Starbucks to $63 after its Investor Day presentation. The analyst notes that the company's "lowering of long-term algorithm may have caught the market by surprise", but his takeaway from the event is "incrementally positive" based on the CEO commentary around comps estimates and slowing net store openings reducing "cannibalization concerns". Strelzik keeps his Market Perform rating on Starbucks however, stating that its valuation is "too expensive" to get more constructive.
12/19/18
JPMS
12/19/18
NO CHANGE
Target $70
JPMS
Overweight
JPMorgan likes shares of Starbucks at current levels
JPMorgan analyst John Ivankoe says he likes shares of Starbucks at current levels after taking a group of investors to the company's Seattle headquarters. Improved visibility into U.S. comp improvement, driven by various sales-driving initiatives along with 6%-7% global unit growth, will allow Starbucks to sustain a premium multiple, Ivankoe tells investors in a research note. He keeps an Overweight rating on the shares with a $70 price target.
01/11/19
GSCO
01/11/19
DOWNGRADE
Target $68
GSCO
Neutral
Starbucks downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Karen Holthouse downgraded Starbucks to Neutral and lowered her price target for the shares to $68 from $75. The coffee giant closed yesterday up 31c to $64.19. The analyst remains "reasonably confident" that Starbucks' initiatives to drive digital engagement can lead to a "more stable" 3%-4% comp trajectory in the U.S. over the next few years. However, its valuation has "rapidly re-rated" to reflect this, and gift cards and digital trends could be points of caution in fiscal Q1, Holthouse tells investors in a research note. Further, she has "incremental concerns" regarding the China macro environment and the company's comp trajectory in that region. Other consumer companies, like Apple (AAPL) and McDonald's (MCD), have noted weakness in China, the analyst points out. Holthouse this morning also upgraded Texas Roadhouse (TXRH) to Buy from Neutral and downgraded Yum! Brands (YUM) to Sell from Neutral.
01/11/19
BMOC
01/11/19
NO CHANGE
Target $60
BMOC
Market Perform
Starbucks price target lowered to $60 from $63 at BMO Capital
BMO Capital analyst Andrew Strelzik lowered his price target on Starbucks to $60 and kept his Market Perform rating, saying the company's "valuation resiliency" appears to be "disconnected" from changes to the fundamentals. The analyst notes that in spite of trading at "multiyear high relative valuation metrics", Starbucks is facing slower growth and a less solid outlook for its China market. Strelzik adds that although there may not be a near term downside catalyst, the risk-reward on Starbucks appears to be tilted to the downside.

TODAY'S FREE FLY STORIES

RTN

Raytheon

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IBCP

Independent Bank

$22.80

-0.11 (-0.48%)

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EDIT

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-0.01 (-0.04%)

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GOOG

Alphabet

$1,098.25

6.96 (0.64%)

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Alphabet Class A

$1,106.92

7.52 (0.68%)

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  • 24

    Jan

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    Feb

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    Feb

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    Mar

LAD

Lithia Motors

$87.13

1.57 (1.84%)

10:25
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Conference/Events
Lithia Motors to host special shareholder meeting »

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  • 21

    Jan

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    Mar

CYDY

CytoDyn

$0.00

(0.00%)

10:25
01/21/19
01/21
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10:25
Conference/Events
CytoDyn participates in lunch meeting with Philadelphia Securities »

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  • 21

    Jan

ABT

Abbott

$71.43

0.9 (1.28%)

09:50
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  • 23

    Jan

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    Jan

SFUN

Fang Holdings

$1.88

-0.01 (-0.53%)

09:48
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Fang announces management changes, proposed China Index spin-off »

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TS

Tenaris

$24.32

0.64 (2.70%)

09:45
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Tenaris closes acquisition of 47.79% of Saudi Steel Pipe shares »

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PAAS

Pan American Silver

$14.17

-0.31 (-2.14%)

09:42
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CRWS

Crown Crafts

$5.68

(0.00%)

09:38
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Crown Crafts announces retirement of NoJo Baby & Kids CEO »

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AL

Air Lease

$37.50

0.6 (1.63%)

, BA

Boeing

$364.79

5.52 (1.54%)

09:36
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AL

Air Lease

$37.50

0.6 (1.63%)

BA

Boeing

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5.52 (1.54%)

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  • 30

    Jan

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    Feb

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    May

UTSI

UTStarcom

$3.22

0.1 (3.21%)

09:34
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VRTX

Vertex

$194.63

4.19 (2.20%)

09:31
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Vertex says European Commission granted label extension for Orkambi »

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  • 11

    Feb

ALNY

Alnylam

$83.08

2.4 (2.97%)

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THO

Thor Industries

$66.56

1.905 (2.95%)

09:26
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Thor finalizing talks to exclude EHG's North American operations from deal »

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PLWTY

Panalpina

$0.00

(0.00%)

08:44
01/21/19
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08:44
Downgrade
Panalpina rating change at Jefferies »

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EFGSY

Eiffage

$0.00

(0.00%)

08:41
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Eiffage rating change at Barclays »

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TVFCF

Television Francaise 1

$0.00

(0.00%)

08:40
01/21/19
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08:40
Downgrade
Television Francaise 1 rating change at Citi »

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ATVDY

Atresmedia

$0.00

(0.00%)

08:37
01/21/19
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08:37
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08:37
Upgrade
Atresmedia rating change at Citi »

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TDPAY

Tod's

$0.00

(0.00%)

08:36
01/21/19
01/21
08:36
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08:36
Downgrade
Tod's rating change at Citi »

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SFRGY

Salvatore Ferragamo

$0.00

(0.00%)

08:35
01/21/19
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08:35
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Salvatore Ferragamo rating change at Citi »

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PRDSY

Prada

$0.00

(0.00%)

08:34
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