Robert Baird reported on Thursday that they have upgraded american global coffee company, Starbucks Corporation(SBUX) to “Outperform.”
The firm upgraded SBUX from “Neutral” to “Outperform,” and have given the company a price target of $62. This price target suggests a 17% increase from the stock’s current price of $51.62.
Analysts believe that the company will see steady earnings through the next one to two years.
Starbucks shares were mostly flat during premarket trading Thursday. The stock is up 8.7% YTD.
The Bottom Line
Shares of Starbucks (SBUX) have a 1.65% dividend yield, based on last night’s closing stock price of $50.79. The stock has technical support in the $46-$48 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.
Starbucks Corporation(SBUX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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