Starbucks has plateaued for over a week at $56 after losing 13% on an earnings miss last month.

I couldn’t find any analysts who recommended anything other than strong-buy or hold, and Nasdaq.com reports the average 12 month price target at $68, or growth of over 21% this year!

As someone who used to work there and really understands how the business works and what major recent structural changes have happened, Starbucks is consolidating power and profit centers and cutting costs and promotional giveaways to customers. This all comes together to tell me they are serious about making this a strong year.

I will buy long and set a goal of +10/-5% from $56.