Deutsche Bank (DB) maintained its "Buy" rating on Starbucks Corp. (NASDAQ:SBUX), saying there are too many positives to ignore.
The bank lifted its price target on the coffee maker to $53 from $52.
"SBUX remains positioned for a strong F2H/FY13. Key drivers include: full rollout/supply of K-Cups, Blonde light roast (launched Jan 10), easing commodity pressures, targeted cost reductions, accel. unit growth (800 net new stores in FY12E vs. 323 prior 3 yrs combined).... “future” opportunities (alcohol test, new CPG products/partnerships, Evolution Fresh), and healthy cash flow, DB wrote.
Shares of the Seattle-based company fell 1.0 percent to $47.85 on Friday. The stock has been trading in the 52-week range between $30.75 and $48.49.
