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Starbucks Corp. SBUX,
was upgraded to buy from Deutsche Bank, with analysts anticipating growth in China for a long time. Analysts have maintained their price target of $ 127. Deutsche Bank launched Starbucks coverage last month. Analysts also expect Starbucks to return “about a low to mid-teenage percentage of its market capitalization” in the form of dividends and share buybacks over the next three years. During the third quarter earnings call, chief executive Kevin Johnson said the company has reached more than 5,100 locations in China and revenue has grown 45% year-over-year. “These are still the early days,” Johnson said, according to a FactSet transcript. Starbucks stock is up 4% year-to-date while the S&P 500 SPX index,
gained nearly 17% over the period.
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