China Has Another Firm in Its Crosshairs Over Its Epic Property Bust: PwC
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 28 2024
0mins
Should l Buy SBUX?
Source: WSJ
China's Housing Crisis: The ongoing housing crisis in China has led to significant losses for developers, bond investors, and homeowners, prompting regulators to investigate PricewaterhouseCoopers (PwC), the auditor for many affected firms.
Evergrande Scandal: PwC audited China Evergrande Group, which was found to have fraudulently inflated its revenues by nearly $80 billion during its time as a client, resulting in hefty fines for the developer.
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Analyst Views on SBUX
Wall Street analysts forecast SBUX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SBUX is 96.12 USD with a low forecast of 59.00 USD and a high forecast of 115.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
12 Buy
7 Hold
2 Sell
Moderate Buy
Current: 99.450
Low
59.00
Averages
96.12
High
115.00
Current: 99.450
Low
59.00
Averages
96.12
High
115.00
About SBUX
Starbucks Corporations is a roaster, marketer, and retailer of specialty coffee globally. Its North America segment includes the United States and Canada. Its International segment includes China, Japan, Asia Pacific, Europe, Middle East and Africa, Latin America, and the Caribbean. Its North America and International segments include both Company-operated and licensed stores. The Channel Development segment includes roasted whole bean and ground coffees, Starbucks-branded single-serve products, a variety of ready-to-drink beverages, such as Frappuccino and Starbucks Doubleshot, foodservice products, and other branded products sold outside the Company-operated and licensed stores. A large portion of its Channel Development business operates under a licensed model of the Global Coffee Alliance with Nestle, while its global ready-to-drink businesses operate under collaborative relationships with PepsiCo, Inc., Tingyi-Ashi Beverages Holding Co., Ltd., Arla Foods amba, Nestle, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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