Starbucks Corp. Receives a Buy from Nomura Holdings

By Jason Carr

Nomura Holdings analyst Mark Kalinowski reiterated a Buy rating on Starbucks Corp. (NASDAQ: SBUX) today and set a price target of $70. The company’s shares opened today at $57.34.

According to TipRanks.com, Kalinowski is a 5-star analyst with an average return of 10.3% and a 76.9% success rate. Kalinowski covers the Services sector, focusing on stocks such as Cheesecake Factory, Papa John’s Intl., and Bob Evans Farms.

Currently, the analyst consensus on Starbucks Corp. is Moderate Buy and the average price target is $63.23, representing a 10.3% upside.

In a report issued on November 29, Piper Jaffray also maintained a Buy rating on the stock with a $64 price target.

The company has a one year high of $62.54 and a one year low of $50.84. Currently, Starbucks Corp. has an average volume of 9.17M.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. Last month, Javier Teruel, a Director at SBUX sold 32,654 shares for a total of $1,775,725.

Starbucks Corp. engages in the manufacture and sale of coffee and tea. It operates through the following segments: Americas; Europe, Middle East, and Africa; China/Asia Pacific; Channel Development; and Other. Its brand portfolio includes Starbucks Coffee, Seattle’s Best Coffee, Tazo Tea, Evolution Fresh, La Boulange, and Torrefazione Italia Coffee. The company was founded by Jerry Baldwin and Howard S. Schultz on November 4, 1985 and is headquartered in Seattle, WA.