Luckin Coffee (OTCMKTS:LKNCY) Upgraded by Zacks Research to Strong-Buy Rating

Luckin Coffee (OTCMKTS:LKNCY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Luckin Coffee in a report on Tuesday, June 9th. They set a “buy” rating and a $43.60 price target for the company. The Goldman Sachs Group set a $49.00 price objective on shares of Luckin Coffee and gave the company a “buy” rating in a research note on Sunday, June 21st. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, Luckin Coffee currently has a consensus rating of “Strong Buy” and a consensus price target of $48.20.

Luckin Coffee Stock Up 1.9%

LKNCY opened at $34.12 on Monday. The firm has a market cap of $9.79 billion, a P/E ratio of 20.31 and a beta of -0.36. The business’s fifty day simple moving average is $31.95 and its 200 day simple moving average is $33.21. Luckin Coffee has a 52 week low of $27.22 and a 52 week high of $43.64.

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.