Luckin Coffee (OTCMKTS:LKNCY) Cut to “Hold” at Zacks Research

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

A number of other brokerages have also recently weighed in on LKNCY. The Goldman Sachs Group set a $49.00 price target on shares of Luckin Coffee and gave the company a “buy” rating in a research report on Sunday, June 21st. BNP Paribas Exane raised shares of Luckin Coffee to an “outperform” rating and set a $48.00 price objective for the company in a research report on Tuesday, September 15th. Finally, Jefferies Financial Group assumed coverage on shares of Luckin Coffee in a research note on Tuesday, June 9th. They issued a “buy” rating and a $43.60 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $46.87.

Luckin Coffee Price Performance

OTCMKTS LKNCY opened at $32.82 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 $9.41 billion, a P/E ratio of 19.54 and a beta of -0.34. The business’s 50-day simple moving average is $34.67 and its 200-day simple moving average is $32.95.

Luckin Coffee Company Profile

Luckin Coffee Inc is a China-based coffeehouse company that operates a technology-driven retail and delivery network. The company sells freshly prepared coffee beverages, including espresso-based drinks and specialty coffee, along with tea beverages, light meals, snacks and other food products.

Founded in 2017, Luckin built its business around mobile ordering, cashless payment, store-based pickup and delivery. Its locations typically emphasize convenience and standardized preparation, serving customers through a combination of pickup stores, delivery-oriented outlets and larger café locations.

Luckin primarily serves customers in mainland China and has also expanded its operations into Singapore.