Starbucks Corp values its loyal reward members, but even people who do not get stars to come in give the company a boost.
Starbucks & # 39;
SBUX, + 8.94%
Sales growth in the same store in the third quarter was 6% global, and 7% in the US Global traffic growth was 3%, CEO Kevin Johnson said on revenue.
"The company's step-by-step acceleration of compensation seems more driven by the behavior of non-loyalty rather than loyalty customers given less common needs," wrote Bank of America analysts led by Gregory Francfort.
Bank of America analysis of the company's sales growth indicates that customers who are not members of My Starbucks Rewards (MSR) contributed to the results. Retrieving more sales from these non-loyalty customers has been a goal for a long time.
See: Starbucks restores its rewards program to make occasional customers a loyal
platform, especially refreshers, "Bank of America wrote. "We also suspect that a move to slow unit growth 1
Bank of America directs Starbucks shares with a price target of $ 103, up from $ 100.
BTIG called the quarter the "strongest" in the past. Analysts talked about the impact of the company's Nitro Cold Brew drink, and unlike Bank of America, the growing rewards program.
"After several years of anemic traffic in the United States, guest talks accelerated on the strength of cold beverage innovation and digital engagement that drives comp growth on every day trip for the first time in three years," wrote analysts led by Peter Saleh. has regained its pace from trough reached in the US and China a year ago with the continued rollout of Nitro Cold Brew and Starbucks Rewards adoption that is likely to sustain recent gains. ”
Starbucks Leaders attributed the results of the quarter to the conditions it has for customers, made possible by technology.
Read: Revenue from Coca-Cola gets a bump from drink ready Costa Coffee
“We know much more about our customers now and it's really fuel for what we have in the beverage innovation pipeline as well as when we need to be ready for customers at the store level, "Rosalind Brewe said. r, the manager of Starbucks, on the revenue request, according to a FactSet print.
MSR membership increased by 14% to 17.2 million active members in the last quarter.
KeyBanc Capital Markets also believes the company's digital initiative is crucial for continued growth.
"In the United States, over 20% (~ 17.2 million) of Starbucks & # 39; 75 million customers are classified as & # 39; active & # 39; MSR members, accounting for nearly 42% of the company's sales and virtually all the step-by-step growth, "wrote Eric Gonzalez in a note." Starbucks & # 39; best opportunity to run a sales engine in the same store lies in the ability to board new customers on the digital ecosystem. "
] Don't miss: Grocer Outlet's pricing model is ready for growth – as long as the shelves are in stock
KeyBanc rates Starbucks stocks overweight and raised the price target to $ 105 from $ 84.
Starbucks & # 39; price targets were also raised on Stifel (up to $ 90 from $ 86), Wedbush (up to $ 95 from $ 88), JPMorgan (up to $ 91 from $ 81) and CFRA (to $ 100 from $ 80).  Starbucks shares have risen 54.6% for the year to the year while the S&P 500 index
SPX, + 0.74%
has had 20.8% for the period.