Luckin Coffee (OTCMKTS:LKNCY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Luckin Coffee (OTCMKTS:LKNCY) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

LKNCY has been the topic of a number of other research reports. The Goldman Sachs Group set a $49.00 price objective on Luckin Coffee and gave the stock a “buy” rating in a research note on Sunday, June 21st. Jefferies Financial Group assumed coverage on Luckin Coffee in a research note on Tuesday, June 9th. They issued a “buy” rating and a $43.60 target price for the company. Three research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, Luckin Coffee currently has an average rating of “Strong Buy” and a consensus price target of $48.20.

Luckin Coffee Price Performance

LKNCY stock opened at $34.12 on Monday. Luckin Coffee has a 1 year low of $27.22 and a 1 year high of $43.64. The firm has a market capitalization of $9.79 billion, a PE ratio of 20.31 and a beta of -0.36. The business has a 50 day simple moving average of $31.95 and a 200-day simple moving average of $33.21.

About Luckin Coffee

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.