Schaeffer's Trading Floor Blog

Analyst Update: Starbucks Corporation (SBUX), The Boeing Company (BA), and Coinstar, Inc. (CSTR)

Analysts adjusted their ratings on SBUX, BA, and CSTR

by 4/26/2013 12:53 PM
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Analysts are continuing to shift their opinions at a rapid clip ahead of the weekend. Among the names seeing brokerage changes today are ubiquitous coffee seller Starbucks Corporation (NASDAQ:SBUX), aerospace firm The Boeing Company (NYSE:BA), and Redbox parent Coinstar, Inc. (NASDAQ:CSTR).

  • SBUX ventured into the earnings confessional last night, announcing per-share results that matched estimates, and guiding higher for the full year. Still, Starbucks shares are off 1.3% in midday trading at $59.70, though they are still up more than 11% in 2013. Deutsche Bank did give the Seattle-based company a nod this morning, upping its price target to $65 from $60. With this move, the firm is in line with the average 12-month price target among analysts, which stands at $65.23, or just 9.4% above the stock's current level.

  • Following news that Japan would lift its ban of the Dreamliner 787 in June, The Boeing Company has surged to a new five-year high of $93.38 today and is currently up 1.3% at $92.89. Also helping contribute to the stock's 23.5% year-to-date gain is BB&T Capital Markets, which upgraded the shares from "buy" to "hold." Option players have remained confident in BA as the company has sorted through the Dreamliner's lithium-battery woes; the stock's Schaeffer's put/call open interest ratio (SOIR) currently stands at 0.58, which is an annual low. In other words, short-term option players are more call-focused now than at any other time during the past year.

  • Finally, CSTR is solidly in the black after lifting its full-year earnings outlook and earning a number of price-target hikes. Wedbush upped its outlook to $78 from $66, for example, while Benchmark and Northland Capital increased their projections as well. While Coinstar, Inc. shares are still down roughly 15% in the last 12 months, they have gained more than 9% in 2013 to arrive at their present perch of $56.77. Any further gains could force out the short sellers, prompting a dramatic short squeeze. Currently, short interest represents nearly half of the stock's available float, and it would take a whopping 27 days (at the stock's average daily volume) to exit these positions.

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