Barclays analyst Jeffrey Bernstein keeps an Overweight rating on Starbucks (SBUX) with a $110 price target after the company pre-announced Q4 and suspended its prior fiscal 2025 guidance. The firm finds it best to separate the current more challenging fundamentals from the new CEO’s vision. While the new 2025 outlook an updated long-term algorithm will take time to formulate, investors will be buyers of the CEO’s vision, the analyst tells investors in a research note. Barclays believes very few companies across the consumer landscape offer proven, industry leading growth at scale, and say “such scarcity value provides valuation support” for Starbucks.
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