Starbucks: Wedbush cuts target price
(CercleFinance.com) - While maintaining its "neutral" rating on the Starbucks share, Wedbush has cut its target price from 95 dollars to 84 dollars, due to a visibility that the broker considers is limited in the near term for the Seattle-based coffee store chain.
"Starbucks' valuation properly reflects near-term uncertainty regarding the potential impact on global sales and profitability from COVID-19, offset by compand margin outperformance in the medium- to long-term," it says, however.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Starbucks' valuation properly reflects near-term uncertainty regarding the potential impact on global sales and profitability from COVID-19, offset by compand margin outperformance in the medium- to long-term," it says, however.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.