Coffee seller Starbucks Corporation ( SBUX ) on Wednesday saw its price target increased by analysts at BMO Capital.
The firm said it now expects shares of SBUX to reach $40, suggesting a 9% upside to the stock's Tuesday closing price of $36.79.
BMO Capital noted the company can raise margins, despite recent rises commodity costs. The analyst maintained its "Market Perform" rating.
Starbucks shares were mostly flat in premarket trading Wednesday.
The Bottom Line
Shares of Starbucks ( SBUX ) have a 1.41% dividend yield, based on last night's closing stock price of $36.79. The stock has technical support in the $32-$34 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $38-$40 a share.
Starbucks Corporation ( SBUX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Created by Dividend.com