Starbucks price target lowered to $95 from $102 at Citi

Citi analyst Jon Tower lowered the firm’s price target on Starbucks to $95 from $102 and keeps a Neutral rating on the shares ahead of the fiscal Q2 report. The analyst says investor expectations have waned alongside softening high-frequency data in the U.S. and macro/micro data points from China suggesting consumer spending remains under duress. Starbucks’ guidance called for a weak Q2 and a strong rebound in the second half of the year to meet fiscal year targets, something most investors now view skeptically, the analyst tells investors in a research note.