Starbucks price target lowered to $110 from $115 at RBC Capital

RBC Capital analyst Christopher Carril lowered the firm’s price target on Starbucks to $110 from $115 and keeps a Sector Perform rating on the shares. The company’s Q2 results "delivered against elevated expectations" with accelerated China comp growth to 30% by March, but FY23 guidance remained unchanged and reflects "uncertainty looking ahead", the analyst tells investors in a research note. Guidance could ultimately prove conservative, but there is potential for the more cautious outlook to weigh on shares in the very near-term, RBC added.