Starbucks price target lowered to $102 from $103 at Citi

Citi analyst Jon Tower lowered the firm’s price target on Starbucks to $102 from $103 and keeps a Neutral rating on the shares. The analyst says Starbucks remains the most debated name in group. The firm has “leaned less constructive” on the shares than many over the past two years but believes there are multiple paths for share price appreciation. Citi believes a clear timeline for capacity unlocks as a U.S. same-store-sales driver and a plan for China that does not feel like “business as usual” would be catalysts for the shares.