Luckin Coffee (OTCMKTS:LKNCY) Upgraded 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 report issued on Tuesday,Zacks reports.

Separately, BNP Paribas Exane upgraded shares of Luckin Coffee to an “outperform” rating and set a $48.00 price target for the company in a research report on Tuesday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, Luckin Coffee currently has an average rating of “Strong Buy” and an average target price of $46.87.

Luckin Coffee Stock Up 0.6%

LKNCY opened at $36.87 on Tuesday. The firm’s fifty day simple moving average is $33.51 and its two-hundred day simple moving average is $33.50. Luckin Coffee has a 52-week low of $27.22 and a 52-week high of $40.22. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 0.47 and a beta of -0.32.

Luckin Coffee Company Profile

Luckin Coffee is a Chinese coffeehouse company founded in 2017. It operates a technology-driven retail business, using mobile ordering and a network of stores to serve customers through pickup and delivery. The company’s offerings include freshly brewed coffee, tea and other beverages, along with selected food items. Its menu and promotions are designed for convenient, frequent purchases through its app and other digital channels. Luckin Coffee primarily serves customers in China and has also expanded into Singapore.