Starbucks price target lowered to $90 from $102 at Stifel

Stifel analyst Chris O’Cull lowered the firm’s price target on Starbucks (SBUX) to $90 from $102 and keeps a Hold rating on the shares. The firm evaluated year-over-year visitation performance for several restaurant chains and found mixed results among several major chains, the analyst tells investors. While the firm’s analysis confirmed comments recently made by McDonald’s (MCD) and Olive Garden’s (DRI) management teams, and the firm estimates that Starbucks is also seeing some challenges with lower-income consumers, several restaurant chains, ranging from Chipotle (CMG) to Chili’s (EAT), appear to be performing well among this income group, the analyst noted.