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12/12/2012 1:55:51 PM
Williams Capital reported on Wednesday that they have increased estimates for specialty coffee chain, Starbucks Corporation( SBUX ).
The firm has increased its rating for SBUX to a "Perform," and has raised its price target to $55. This price target suggests a 3% increase from the stock's current price of $53.19.
Analysts from the firm have increased estimates due to the company's cost cutting measures and higher sales volume.
Starbucks shares were up 36 cents, or 0.68% during premarket trading Wednesday. The stock is up 7% YTD.
The Bottom Line
Starbucks Corporation( SBUX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.