Starbucks "overweight," target price reduced

23.01.08 - Lehman Brothers

NEW YORK, January 23 (newratings.com) - Analyst Jeffrey A Bernstein of Lehman Brothers maintains his "overweight" rating on Starbucks Corp (SBUX), while reducing his estimates for the company. The target price has been reduced from $30 to $27.

In a research note published yesterday, the analyst mentions that the company?s target price has been reduced using the revised EPS estimates for calendar 2009. The EPS estimates for 2008 and 2009 have been reduced from $1.01 to $0.99 and from $1.20 to $1.17, respectively.