BTIG lowered the firm’s price target on Starbucks (SBUX) to $105 from $115 and keeps a Buy rating on the shares. The company reported a disappointing quarter last night, with weaker than expected North America comps, further decline next quarter and a rather stunning contraction in operating margin, the analyst tells investors in a research note. The consumer environment for middle- and upper-income consumers has clearly softened of late, the firm adds.
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