BofA Securities Maintains Buy on Starbucks, Raises PT to $110

BofA Securities Maintains Buy on Starbucks, Raises PT to $110

In a recent update, Bank of America (BofA) has revised its price target for Starbucks (SBUX) shares, raising it from $101 to $110, while maintaining a 'Buy' rating on the stock. This move comes amidst the firm's broader review of estimates for over 20 companies within its restaurant coverage, as well as adjustments to price targets to reflect changes in market multiples ahead of the group's earnings [1].

The update indicates a positive outlook on Starbucks' financial performance and growth prospects. BofA's decision to raise the price target reflects a reassessment of the company's valuation and expected future earnings. This adjustment aligns with BofA's broader strategy of fine-tuning estimates to better align with current market conditions and anticipated financial results.

Investors should take note of this update, as it signals a positive view on Starbucks' stock from a well-regarded financial institution. However, it is crucial to consider other factors and perform thorough due diligence before making investment decisions.

Reference List:
[1] https://www.tipranks.com/news/the-fly/starbucks-price-target-raised-to-110-from-101-at-bofa-thefly