Starbucks Initiated With A Buy At MKM Partners


MKM Partners initiated coverage of Starbucks (SBUX) – Get Report with a buy rating and a $105 price target, but warned that the coffee retailing giant’s near-term operations may suffer due to “China-related concerns.”

Shares were up modestly Thursday to $89.13.

“We believe the company possesses a unique long-term mix supporting the build-out of a dominant global business (~31,000 Starbucks locations, significant channel-related points of distribution), strong in-store operations and ongoing investments in its supply chain and considerable digital infrastructure,” analyst Brett Levy said in a note to clients.

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