Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Let's now take a look at one standout stock that could be a perfect fit for your portfolio.
Why You Should Pay Attention to Starbucks (SBUX)
Founded in 1985 and based in Seattle, WA, Starbucks Corporation is the leading roaster and retailer of specialty coffee globally. In addition to fresh, rich-brewed coffees, Starbucks’ offerings include many complimentary food items and a selection of premium teas and other beverages, sold mainly through the company’s retail stores. The company’s popular brands include Starbucks coffee, Teavana tea, Seattle's Best Coffee, La Boulange bakery products and Evolution Fresh juices.
SBUX was added to the Zacks Focus List on August 16, 2019 at $95.93 per share. Since then, shares have increased 7.14% to $102.78.
For fiscal 2024, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.08 to $4.14. SBUX boasts an average earnings surprise of 6.9%.
Earnings for Starbucks are forecasted to see growth of 17% for the current fiscal year as well.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like SBUX offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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