Starbucks Upgrade, DraftKings Initiation Among Today's Top Calls On Wall Street

Check out today's top analyst calls from around Wall Street.

Buy Starbucks

Deutsche Bank analyst Brian Mullan upgraded Starbucks (SBUX) to Buy from Hold with an unchanged price target of $127, which represents 14% upside from current levels. The analyst cited valuation for the upgrade following the stock's recent pullback. Mullan has a "reasonable degree of confidence that one can start to 'leg in' here and ultimately be rewarded for taking the risk."

Meanwhile, Bank of America analyst Sara Senatore reinstated coverage of Starbucks with a Buy rating and $135 price target. The analyst stated that the growth in the specialty coffee segment continues to outpace that of overall foodservice globally and in the U.S., but few concepts have been able to achieve as "meaningful" of scale as Starbucks. Senatore also expects the impact of smaller concepts to be limited in the near-term.

Robust, Long-Term Growth 

Citi analyst Jason Bazinet initiated coverage of DraftKings (DKNG) with a Buy rating and $66 price target. The online sports betting and internet gaming market offers investors exposure to "robust, long-term growth," Bazinet told investors in a research note.

The analyst expects DraftKings to be a net beneficiary as customer acquisition rationalizes and the market consolidates. He also thinks current Street expectations for payer growth are reasonable. The analyst also started coverage of Genius Sports (GENI) and Sportradar (SRAD) with Buy ratings and price targets of $22 and $30, respectively.

Moving to the Sidelines 

Raymond James analyst Frank Louthan downgraded Comcast (CMCSA) to Market Perform from Outperform without a price target.

Despite greater media and entertainment exposure as a hedge, Louthan believes increasing competitive pressure from telcos expanding their own fiber builds, along with elevated regulatory influence under the imminent reinstatement of Title II, will ultimately limit future subscriber growth from here.

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