Stifel Ups Starbucks To Buy: Sales Growth Not Priced Into The Stock

Starbucks (SBUX) is climbing Thursday, thanks to an upgrade from Stifel.

Analyst Mark Astrachan and his team upgraded the shares from Hold to Buy, with a $67 price target. He writes that he expects the stock’s multiple to expand thanks to same-store sales growth of at least 5% to 6% in US locations in the next year,  and with slightly lower growth globally.
Source: Barrons

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