3 Reasons to Buy Starbucks Stock Right Now
Based on the stock's performance of late, investors seem to have lukewarm opinions about (NASDAQ: SBUX) right now. The coffee giant is underperforming the market in 2023 despite generally positive growth and earnings trends. That performance gap is even more puzzling considering the overall strength of the fast-food industry right now, not to mention Starbucks' unique global expansion opportunities.
Given its potential for excellent returns, now might be a good time to take a closer look at Starbucks stock. Here are three of the many reasons why the stock has real potential for long-term investors in mid-2023.
The chain's last earnings report was packed with good news about the business. Starbucks managed to expand comparable-store sales by a strong 11% through April 2 (the end of fiscal 2023's Q2). The chain posted a healthy balance between rising customer traffic and increased spending, too. These metrics were up 4% year over year in Q2.
Source Fool.com
Starbucks Corp. Stock
The stock is an absolute favorite of our community with 24 Buy predictions and no Sell predictions.
As a result the target price of 92 € shows a positive potential of 32.34% compared to the current price of 69.52 € for Starbucks Corp..
