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Fly News Breaks for January 16, 2020
Jan 16, 2020 | 07:37 EDT
KeyBanc analyst Eric Gonzalez raised his price target for Luckin Coffee to $56 from $32 based on "strong" core business momentum and the addition of new revenue streams into his valuation methodology. Despite the stock's upward momentum, the analyst believes the profit potential of these channels implies little to no multiple expansion has occurred since the Unmanned Retail Strategy was first announced and the stock remains inexpensive relative to its growth potential and to category leading global peers. He has an Overweight rating on the shares.
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