Starbucks Stock Is Heating Up Monday: What's Going On?
Portfolio Pulse from Adam Eckert
Starbucks Corp (NASDAQ:SBUX) shares are trading higher following reports of activist investor interest from Starboard Value and ongoing talks with Elliott Investment Management. The stock has been down approximately 22% year-to-date due to slumping sales in key markets. Analysts have an average one-year price target of $87.62 for SBUX.
August 12, 2024 | 1:26 pm
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Starbucks shares are trading higher due to interest from activist investors Starboard Value and Elliott Investment Management. The stock has been down 22% YTD, but analysts see a potential upside with an average price target of $87.62.
The involvement of activist investors typically signals potential changes aimed at boosting stock prices. With Starbucks already down 22% YTD, this news could drive short-term positive sentiment. Analysts' average price target also suggests potential upside.
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