Oppenheimer lifts its price target on Outperform-rated Starbucks (NASDAQ:SBUX) to $81 after shares ran right past the firm's prior PT of $72.
"We remain confident in drivers behind healthy SSS, but recognize that multiple expansion is difficult to justify in near-term (from 25x forward P/E). We'd remain aggressive on valuation-led pullbacks," writes analyst Brian Bittner.
Shares of SBUX are up 0.49% premarket to $75.48.
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