Starbucks (SBUX) Stock: $110 Price Target And Buy Rating

By Amit Chowdhry ● Apr 25, 2022
  • The shares of Starbucks Corporation (NASDAQ: SBUX) have received a $110 price target from BTIG. These are the details.

The shares of Starbucks Corporation (NASDAQ: SBUX) have received a $110 price target from BTIG. And BTIG analyst Peter Saleh is maintaining a “Buy” rating on the shares.

Saleh adjusted the rating while cutting the 2022 and 2023 earnings estimates to reflect the uncertainty of unionization, the high probability of wage and benefit investment, and the recently announced suspension of share repurchase. But Saleh believes that the risk to traffic is nominal as only 4% of consumers responding to the BTIG survey claim they will not visit anymore if an agreement on unions is not reached. 

Plus Saleh remains positive about the company’s continued sales recovery, unit development momentum, and long-term sales potential.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.