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Starbucks Estimates Raised at Williams Capital (SBUX)
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
Shares of Starbucks ( SBUX ) have a 1.58% dividend yield, based on last night's closing stock price of $53.19. the stock has technical support in the $48-$50 price area. If the shares can firm up, we see overhead resistance around the $56 price level.
Starbucks Corporation( SBUX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.