RBC Capital Remains Bullish on Starbucks Coffee (SBUX) Following Proprietary Analysis

RBC Capital reiterated an Outperform rating and $68.00 price target on Starbucks Coffee (NASDAQ: SBUX) following a proprietary consumer analysis. Based on results, RBC is maintaining a F3Q Americas SSS growth estimate of 6%. Panel data for the first two months of the quarter points to F3Q SSS of about 6% (cons. 6.2%).

Analyst David Palmer commented, "We are maintaining our 6% SSS estimate for fiscal 3Q based on the results of our proprietary consumer analysis panel through May. We believe a 6% SSS result for the quarter would mean upside for the stock, since it implies a steady 2yr trend in spite of changes to the company's reward program and broader consumer weakness in April/May."

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 $54.87 yesterday.

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