Wells Fargo (NYSE:WFC) analyst Jon Tower maintained a Buy rating on Starbucks Corp (NASDAQ:SBUX). on Friday, setting a price target of $98, which is approximately 10.32% above the present share price of $88.83.
Tower expects Starbucks Corp. to post earnings per share (EPS) of -$0.58 for the fourth quarter of 2020.
The current consensus among 19 TipRanks analysts is for a Moderate Buy rating of shares in Starbucks, with an average price target of $88.35.
The analysts price targets range from a high of $101 to a low of $78.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $4.22 billion and a net profit of -$694.2 million. The company's market cap is $103.84 billion.
According to TipRanks.com, Wells Fargo analyst Jon Tower is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 27.2% and a 95.45% success rate.
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. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores. The Channel Development segment include sales of packaged coffee, tea, and ready-to-drink beverages to customers outside of its company-operated and licensed stores. The company brands include Evolution Fresh, Teavana, Tazo Tea and Seattle's Best. Starbucks was founded by Jerry Baldwin and Howard D. Schultz on November 4, 1985 and is headquartered in Seattle, WA.