Starbucks Corp. /zigman2/quotes/207508890/composite SBUX -0.88% was upgraded to buy from neutral at MKM Partners on Tuesday, with analysts expressing optimism about the coffee purveyor's long-term prospects even if the near-term is under pressure. MKM moved its 12-month price target to $130 from $114. "Despite an operating model facing near-term pressures related to internal decisions and macro-related factors, and the understanding that a straight-line recovery is unlikely, we are choosing to look past these short-term hurdles," Brett Levy wrote in a note. "We have long been supportive of Starbucks' brand strength/scale; development opportunities; and the balancing of investments in its brand, people, technology and returns to the investment community." The company announced in its most recent earnings that it will invest $1 billion in its workers during fiscal 2021 and 2022. MKM says this enhancement will drive profit and sales over time. Starbucks shares rose 2% in Tuesday premarket trading, and have gained 6% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.97% has run up 22.3% in 2021.