Luckin Coffee (OTCMKTS:LKNCY) Raised to “Strong-Buy” at Zacks Research

Luckin Coffee (OTCMKTS:LKNCY – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on the company. Jefferies Financial Group started coverage on Luckin Coffee in a research note on Tuesday, June 9th. They issued a “buy” rating and a $43.60 price objective on the stock. The Goldman Sachs Group set a $49.00 price target on shares of Luckin Coffee and gave the company a “buy” rating in a research report on Sunday, June 21st. Three research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Buy” and a consensus target price of $48.20.

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Luckin Coffee Trading Up 1.9%

Shares of Luckin Coffee stock opened at $34.12 on Monday. The business’s fifty day moving average price is $31.95 and its 200 day moving average price is $33.21. Luckin Coffee has a twelve month low of $27.22 and a twelve month high of $43.64. The stock has a market capitalization of $9.79 billion, a P/E ratio of 20.31 and a beta of -0.36.

Luckin Coffee Company Profile

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Luckin Coffee Inc is a China-based coffeehouse chain that combines a digitally driven ordering platform with a network of physical outlets. The company’s mobile app and in-store kiosks enable customers to place orders for takeaway or delivery, while its proprietary supply chain supports rapid store expansion and consistent product quality. Luckin’s retail portfolio includes “grab-and-go” pickup points, delivery-only kitchens and full-service cafés designed to meet the varied needs of urban consumers.

Luckin’s menu features a broad range of espresso-based drinks, including lattes, Americanos and cold brews, complemented by tea-based beverages, fruit juices and a selection of light food items such as sandwiches and pastries.

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