Accueil > Actualité
Actualite financiere : Actualite bourse

Starbucks: focus on growth charms investors

( - Starbucks management has outlined an optimistic plan to grow profits at a virtual investor day late on Wednesday, saying that the company is "more resilient than ever.

The coffee chain's executives have detailed ways to drive "consistent and predictable" sales growth and margin expansion, while continuing to create significant value for shareholders.

"We viewed the tone of the event as very positive", Credit Suisse analysts said on Thursday.

For fiscal year 2022, Starbucks said it expects annual non-GAAP EPS growth of at least 20%, as sales are expected to gradually recover in the current fiscal year, that ends in September.

Jefferies said the event provided a "nice gift" for investors, with the company guiding to well above consensus, and prompting the broker to raise its target price from 105 dollars to 115 dollars.

Wall Street analysts, more generally, tended to raise their estimates on the company after the meeting.

Seul bémol, John Zolidis, a leading retail analyst, said that he was shocked to hear Starbucks calibrating its outlook two, three, and even four years into the future.

"We love those guys and gals, but we just don't believe they have a line of sight into performance this far out," he said.

Investors seemed to be convinced, however, with Starbucks shares up almost 5% in morning trading. The stock has risen by more than 14% this year.

Copyright (c) 2020 All rights reserved.




Qui sommes-nous ? | Nous contacter | FAQ | Mentions légales | RSS | © Copyright 2007 Cercle Finance. Tous droits réservés.
Indices et cours différés d’au moins 15 mn | Cotations boursières fournies par ABC Bourse.