As of press release, the stock was up more than 4% to $79.14
Zhitong Finance learned that Starbucks (SBUX.US) shares rose higher on Wednesday. As of press release, the stock had risen more than 4% to 79.14 US dollars. The company's net sales for the third fiscal quarter fell 1% year on year to 9.11 billion US dollars, lower than the forecast of 9.24 billion US dollars. Net profit to mother was 1.05 billion US dollars, lower than 1.14 billion US dollars in the same period last year. After dilution, earnings per share fell 6% year on year to 0.93 US dollars per share, which is in line with expectations.
Morgan Stanley analyst Brian Harbor maintained its “buy” rating and maintained a target price of $98. Evercore analyst David Palmer also maintained the stock's “buy” rating and maintained the target price of $80.
