HSBC analyst Meredith Prichard Jensen lowered the firm’s price target on Starbucks to $84 from $107 and keeps a Hold rating on the shares. The company’s fiscal Q2 results reflect widespread operational and demand struggles, the analyst tells investors in a research note. The firm says Starbucks has a “flurry of initiatives on tap,” but that the roadmap to recovery is prolonged.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SBUX:
- XLP ETF: Invest in Consumer Staples Stocks with Durable Demand
- Starbucks downgraded, Dollar Tree upgraded: Wall Street’s top analyst calls
- Starbucks price target lowered to $92 from $120 at Evercore ISI
- Starbucks price target lowered to $85 from $95 at UBS
- Starbucks price target lowered to $85 from $100 at TD Cowen