What This Investor Is Doing With Starbucks Stock Following Bullish Analyst Call

Starbucks Corp SBUX was featured as the call of the day Monday on CNBC's "Fast Money Halftime Report."

What Happened: Deutsche Bank analyst Brian Mullan upgraded Starbucks from Hold to Buy and announced a $127 price target.

BofA Securities analyst Sara Senatore resumed coverage on Starbucks with a Buy rating and a $135 price target.

Terranova's Take: Virtus Investment Partners' Joe Terranova owns Starbucks stock and doesn't have any plans to sell it, he said Monday on CNBC. 

"I still maintain my position and I agree with the [analyst] call[s]," Terranova said. 

The stock has underperformed recently as "there clearly is a difficult road that has to be navigated related to the slowdown in Chinese economic growth," he said. 

Terranova told CNBC that he expects to hear "encouraging guidance" as it relates to China when the company reports its financial results. 

Starbucks is set to announce its fourth quarter and fiscal year 2021 financial results after the market closes on Oct. 28.

See Also: Thinking About Buying Stock In Starbucks, Peloton Or ChemoCentryx?

SBUX Price Action: Starbucks has traded as high as $126.32 and as low as $85.45 over a 52-week period.

The stock was down 0.17% at $111.03 late in Monday's trading session.

Photo: Şahin Sezer Dinçer from Pixabay.