Starbucks Stock Has 17% Upside, According to 1 Wall Street Analyst
Because it lowered its estimated sales growth range for 2024 from 10%-12% down to 7%-10%, (NASDAQ: SBUX) disappointed the market with its recent first-quarter results. This downward revision -- paired with the company's slowing growth rates in recent quarters -- helps explain why Starbucks' stock price currently sits 29% below its all-time highs.
Management didn't revise its earnings-per-share (EPS) guidance of 15%-20% growth in 2024. Leaving these expectations intact, Starbucks looks like a value, according to Wells Fargo analyst Zachary Fadem, whose price target of $105 implies a 17.5% upside over the next 12 months.
Fadem thinks the discounted share price already reflects any upcoming Q2 dissatisfaction and predicts a rebound for Starbucks' stock. Considering its market-beating indicators, Starbucks could prove to be a buy at today's prices.
Source Fool.com
Starbucks Corp. Stock
Starbucks Corp. is currently one of the favorites of our community with 19 Buy predictions and no Sell predictions.
As a result the target price of 103 € shows a positive potential of 37.81% compared to the current price of 74.74 € for Starbucks Corp..
