The strategic framework is intact following IPO plans at Coca-Cola Beverages Africa.
We think shares are overvalued but would be buyers on a pullback.
We are likely to raise our fair value estimate for the wide-moat company, and we think shares could become more attractive.
For investors seeking exposure to a high-quality staple, we currently see a sufficient margin of safety in the stock.
A year after the coronavirus pandemic first shuttered Starbucks stores in China, the company demonstrated its continued dominance in the coffee space in the first quarter of fiscal 2021, with adjusted EPS of $0.61 that exceeded both our forecast of $0.52 EPS and its own guidance. We will not be making any material changes to our fair value estimate of $100, and shares strike us as fully valued.
The two most salient differences--portfolio composition and geographic footprint--will prove decisive for anyone looking to reconcile their divergent performances in 2020.
The company's recent resilience has demonstrated its agility and understanding of its customers.
We don’t plan to change our $54 fair value estimate for the wide-moat company.
We maintain our $140 fair value estimate for this wide moat.
No one expected a stellar second quarter, but the beverage giant can overcome short-term weakness.
Sales came in at $15.9 billion for the quarter, a 3% year-over-year decline, for the wide-moat company.
We are not changing our fair value estimate for this wide-moat firm after its first-quarter showed resilience and sustainable performance.
Shares of the wide-moat firm offer compelling value at current prices.
The earnings power of brands like Corona and Modelo along with catalysts on the horizon make this wide-moat firm an underappreciated gem in the brewing industry.
We will be raising our fair value estimate by a mid-single-digit clip as we roll our model forward.
Two brewers get another look.