Davenport Initiates Starbucks Coverage With a Buy (SBUX)

Davenport Initiates Starbucks Coverage With a Buy (SBUX)

RSS

Davenport began coverage on a coveted consumer stock by giving Starbucks (SBUX) a “Buy” rating.

The firm set a price target of $76 for the coffee stock as it feels that there is significant upside due to an improving economy. Starbucks has remained a consistent dividend payer and has watched its stock soar in 2013. The firm now has a market cap of nearly $50 billion and sees its stock trade more than 4.5 million times every day.

Starbucks shares were up $1.06, or 1.61%, at Wednesday’s close. The stock is currently just 2.5% off of its 52-week highs.

The Bottom Line

Shares of Starbucks (SBUX) are currently yielding 1.28% based on Wednesday’s closing price of $65.80.

Starbucks (SBUX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today