Starbucks Likely To Post Higher Q3 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Starbucks Corporation SBUX is expected to report its third quarter fiscal year 2023 financial results, after the closing bell on Aug. 1, 2023.

Analysts expect the company to post quarterly earnings at 86 cents per share, up from year-ago earnings of 84 cents per share. The company’s revenue might come in at $8.42 billion.

Starbucks shares rose 0.3% to close at $101.57 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Citigroup analyst Jon Tower maintained a Neutral rating and cut the price target from $117 to $112 on July 24, 2023. This analyst has an accuracy rate of 70%.
• Wells Fargo analyst Zachary Fadem maintained an Overweight rating and cut the price target from $125 to $120 on July 19, 2023. This analyst has an accuracy rate of 87%.
• Stephens & Co. analyst Joshua Long maintained an Equal-Weight rating and raised the price target from $103 to $110 on July 14, 2023. This analyst has an accuracy rate of 71%.
• Piper Sandler analyst Brian Mullan assumed coverage on the stock with a Neutral rating and a price target of $107 on June 14, 2023. This analyst has an accuracy rate of 76%.
• Evercore ISI Group analyst David Palmer maintained an Outperform rating and boosted the price target from $120 to $125 on May 3, 2023. This analyst has an accuracy rate of 70%.

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