RBC Capital lowered the firm’s price target on Starbucks (SBUX) to $100 from $110 and keeps an Outperform rating on the shares. The company’s Q4 print was solid and, positively, SSS beat in both North America and international where importantly, the recent US labor investment appears to be driving continued transaction acceleration, the analyst tells investors in a research note. Less positively however, the management provided little incremental color on cost savings they alluded to on the Q3 earnings call, RBC added.
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