The Goldman Sachs Group Upgrades Luckin Coffee (OTCMKTS:LKNCY) to Strong-Buy

Luckin Coffee (OTCMKTS:LKNCY) was upgraded by equities researchers at The Goldman Sachs Group to a “strong-buy” rating in a research note issued to investors on Sunday,Zacks.com reports.

A number of other brokerages have also recently issued reports on LKNCY. Jefferies Financial Group began coverage on shares of Luckin Coffee in a report on Tuesday, June 9th. They issued a “buy” rating and a $43.60 target price on the stock. Zacks Research upgraded Luckin Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $48.20.

Luckin Coffee Stock Up 5.3%

Shares of OTCMKTS:LKNCY opened at $32.12 on Friday. Luckin Coffee has a fifty-two week low of $30.00 and a fifty-two week high of $43.64. The firm has a 50-day simple moving average of $32.29 and a 200 day simple moving average of $33.78. The company has a market cap of $9.21 billion, a PE ratio of 20.08 and a beta of -0.31.

Luckin Coffee Company Profile

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.