Starbucks stock gets Stifel Buy rating and 115 US dollar target

Published on 11/11/2026 at 14:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Starbucks stock gains a new Buy-rating catalyst as Stifel resumes coverage. The analyst sees further margin expansion supporting fiscal 2027 earnings growth.

Analyst case meets operating recovery

Stifel expects 4% global comparable-sales growth and 3.19 US dollars in fiscal 2027 earnings per share.
Starbucks delivered its fifth consecutive quarter of positive comparable sales and third consecutive quarter of margin expansion.
China's transition to a licensed model remains a major factor shaping reported revenue and international comparisons.

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Stifel resumed coverage of Starbucks with a Buy rating and a 115 US dollar price target on Monday, November 9, according to Investing.com, citing Reuters. The call adds a fresh analyst view to Starbucks' recovery story after the coffee chain reported stronger comparable sales and wider margins for fiscal 2026.

Starbucks stock traded at 98.29 euros on Lang & Schwarz at 14:12 CET on Wednesday, November 11, 2026. The quote is in euros, while Stifel's target is in US dollars and therefore is not a direct euro-market comparison.

Stifel sees earnings leverage

Analyst Matthew Smith based the target on a 21-times enterprise-value-to-EBITDA multiple applied to fiscal 2027 forecasts. Stifel expects global comparable coffeehouse sales to grow 4% and earnings per share to reach 3.19 US dollars, driven by 1.4% transaction growth and a 2.6% increase from ticket size.

Smith said sales momentum and additional margin expansion could support another year of double-digit EBITDA growth. He also described the earnings recovery as increasingly self-funding, with sales leverage and cost savings helping to offset investments in labor and the customer experience. Stifel pointed to 2 billion US dollars in targeted gross cost savings through fiscal 2028, technology upgrades, afternoon menu innovation and about 2,000 North American store remodels.

China reshapes the growth picture

The analyst view follows Starbucks' fiscal fourth-quarter report released on October 29. In the company release, Starbucks said global comparable sales increased 7.2% and US comparable sales rose 7.7%. Non-GAAP operating margin reached 14%, while earnings per share increased 54% to 0.80 US dollars.

Reported revenue fell 3.9% to 9.1 billion US dollars in the quarter, mainly because Starbucks shifted its China retail operations into a licensed joint venture during fiscal 2026. The company now reports its 40% joint-venture economics through income from equity investees rather than consolidating the former company-operated retail sales. Management said this transition will continue to affect international comparisons through the first half of fiscal 2027.

For fiscal 2027, management guided to earnings per share of 3.15 to 3.25 US dollars and expects revenue to decline about 1%, with the China transition offsetting underlying operating progress. The year includes a 53rd week. Starbucks also plans to resume share repurchases and continue investing in stores, digital tools and the customer experience.

Stifel's target reflects confidence that the recovery can broaden beyond the initial comparable-sales improvement. For investors, the key test is whether stronger traffic and ticket growth can translate into sustained margin gains while the China model change suppresses reported revenue.

The wider US equity market provides the relevant backdrop for this Nasdaq-listed company; follow the S&P 500 market environment for broader risk sentiment.

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