Coffee retailer Starbucks Corporation ( SBUX ) on Monday caught a big upgrade from analysts at Robert W. Baird.
The firm said it upgraded SBUX "Neutral" to "Outperform" with a $45 price target, suggesting a nearly 23% upside to the stock's Friday closing price of $36.72. Baird noted that the stock's risk/reward now seems more attractive.
Starbucks shares fell 59 cents, or -1.6%, in premarket trading Monday.
The Bottom Line
Shares of Starbucks ( SBUX ) have a 1.42% dividend yield, based on Friday's closing stock price of $36.72. 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-$41 a share.
Starbucks Corporation ( SBUX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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