Coffee City
Melissa Allison follows the world's biggest coffee-shop chain and other Seattle caffeine purveyors.
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Forbes headline on 3.5 percent Starbucks stock boost takes swipe at its flavor
Posted by Melissa Allison
David Palmer at UBS says it's time to buy Starbucks stock, so that's what the market is doing, sending shares up 3.5 percent to close at $25.29 today, near its 52-week high of $25.37.
Palmer changed his fiscal 2010 earnings estimate from $1.09 a share to $1.14. Last year, Starbucks earned 52 cents a share.
He thinks its instant coffee, Via, which is rolling out this spring in the U.K. and Japan, could add 15 cents a share or more to profits over the next "three-plus" years. One risk, he wrote, is McDonald's roll-out this year of frappes and smoothies that could take some Starbucks market share.
In contrast, RBC Capital Markets analyst Larry Miller told Forbes -- in an article strangely headlined "Starbucks Burns Beans, Stock Head Uptown" -- that he thinks Starbucks' store traffic could wane in the coming months.
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