Piper Sandler lowered the firm’s price target on Starbucks to $100 from $107 and keeps a Neutral rating on the shares ahead of the Q1 earnings report. The firm thinks there is a lot to “unpack” with Starbucks right now, sentiment seems poor, and any near-term same-store sales softness versus consensus seems like it should be very well understood at this point, the analyst tells investors in a research note.
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