Starbucks Corp (SBUX) Gets a Hold Rating from Wedbush

By Austin Angelo

In a report released yesterday, Nick Setyan from Wedbush maintained a Hold rating on Starbucks Corp (SBUXResearch Report), with a price target of $70. The company’s shares closed yesterday at $75.12, close to its 52-week high of $76.95.

According to TipRanks.com, Setyan is a 4-star analyst with an average return of 3.3% and a 53.2% success rate. Setyan covers the Services sector, focusing on stocks such as Dine Brands Global Inc, Del Taco Restaurants, and Jack In The Box Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Starbucks Corp with a $71.85 average price target, a -4.4% downside from current levels. In a report issued on April 8, UBS also downgraded the stock to Hold with a $78 price target.

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The company has a one-year high of $76.95 and a one-year low of $47.37. Currently, Starbucks Corp has an average volume of 10.13M.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock.

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development.