Buy Starbucks Stock, Analyst Says. Home or Office, There’s a Store Nearby

From: barrons.com

Starbucks stock has taken a hit this year, as the pandemic has closed stores and disrupted consumers’ morning coffee routines. Yet Wells Fargo argues that the company has the tools to weather the crisis.

Analyst Jon Tower initiated coverage on Starbucks (ticker: SBUX) with an Overweight rating and $92 price target, writing on Monday that “investors currently underappreciate the pliability of Starbucks’ business model and sustainability of long-term sales drivers in the presence of temporary disruptions of the business related to Covid-19.”

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