Starbucks Stock Analysis: Baird Upgrades Outlook, Raises Target Price
Baird Upgrades Starbucks to Outperform
On August 13, 2024, Baird upgraded its outlook for Starbucks (SBUX) from Neutral to Outperform. The upgrade was based on the analyst's belief that the company is well-positioned to benefit from the growing demand for premium coffee and the expansion of its international business.
Analyst Recommendations
- Baird raised its target price for Starbucks to $110, up from $81.
- Evercore ISI Group also upgraded Starbucks to Outperform on August 14, 2024.
- Starbucks currently has an average rating of Outperform, with price targets ranging from $77 to $112.
Factors Driving the Upgrade
- Growing demand for premium coffee
- Expansion of Starbucks' international business
- Strong financial performance
Starbucks is one of the world's largest coffeehouse chains, with over 30,000 stores in more than 80 countries. The company has been a consistent performer in recent years, with strong sales growth and profitability.
The Baird upgrade is a positive sign for Starbucks, and it suggests that the company is well-positioned for continued growth in the future. Investors should consider adding Starbucks to their watchlists.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. It is important to do your own research and consult with a financial professional before making any investment decisions.
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