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Tuesday, July 17, 2012

Starbucks stock price target by JPMorgan Chase analysts

Starbucks stock price target by JPMorgan Chase analysts ; Equities research analysts at JPMorgan Chase lowered their price target on shares of Starbucks (NASDAQ: SBUX) from $61.00 to $58.00 in a research note issued to investors on Tuesday. The firm currently has an “overweight” rating on the stock.

The analysts wrote, “We believe Starbucks will grow 20%+ in both F13 and F14, but we’re tweaking down estimates due primarily to Europe profitability, with an also lowered China comp. At a recent investor conference CFO Troy Alstead noted “challenging trends [in Europe] have continued…even more than expected” in 3Q. Following an EMEA operating loss of $5.5m in 2Q, we now estimate an operating loss of ~$12m in 2H, relative to prior expectations for an operating gain of ~$11m and a gain of $7.4m in 2H last year.”

A number of other analysts have also recently weighed in on SBUX. Analysts at UBS AG reiterated a “buy” rating on shares of Starbucks in a research note to investors on Friday. Separately, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Starbucks in a research note to investors on Thursday, July 5th. They now have a $67.00 price target on the stock, down previously from $70.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Starbucks in a research note to investors on Friday, June 29th. They now have a $55.00 price target on the stock.

Shares of Starbucks opened at 52.90 on Tuesday. Starbucks has a one year low of $33.72 and a one year high of $62.00. The company has a market cap of $40.125 billion and a P/E ratio of 30.58.

Starbucks last issued its quarterly earnings data on Thursday, April 26th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.01. The company’s quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts predict that Starbucks will post $1.84 earnings per share for the current fiscal year.
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of specialty coffee in the world, operating in more than 50 countries.

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