BTIG Reiterates Buy Rating on Starbucks (SBUX)

BTIG analyst Peter Saleh reiterated a Buy rating and $100.00 price target on Starbucks (NASDAQ: SBUX).

The analyst comments "Late Friday, published reports indicated an activist investor took a "sizable stake" in Starbucks. We believe the activist could push for slower investment or sale of the China business, more aggressive share repurchase, faster implementation of the Siren system, and potentially another about-face on unionization. In our view, these changes could go a long way to driving better fundamental performance, and in turn, a higher share price. We await more details on the activist plan, but still see a favorable risk/reward outlook with shares and view sentiment as overly negative, we remain Buy-rated with a $100 price target."

For an analyst ratings summary and ratings history on Starbucks click here. For more ratings news on Starbucks click here.

Shares of Starbucks closed at $79.27 yesterday.

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