What To Know About Morgan Stanley's Upgrade of Starbucks
Portfolio Pulse from Benzinga Insights
Morgan Stanley upgraded Starbucks (NASDAQ:SBUX) to Overweight with a new price target of $120.00, up from $112.00. Starbucks shares are currently trading at $92.23, and the new target suggests a potential 30.11% increase. Starbucks operates over 38,000 stores globally and generates revenue through various segments including company-operated stores and product sales.
January 16, 2024 | 5:00 pm
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Morgan Stanley upgraded Starbucks to Overweight and increased the price target from $112.00 to $120.00, suggesting a 30.11% potential upside from the current price.
Analyst upgrades typically have a positive short-term impact on a stock's price as they often lead to increased investor confidence and can trigger buying activity. The substantial increase in the price target to $120 reflects a significant potential upside, which may attract investors and positively influence the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100