Morgan Stanley lowered the firm’s price target on Starbucks to $98 from $104 and keeps an Overweight rating on the shares. Like with others in the firm’s restaurant coverage, the firm hasn’t seen much improvement in high-frequency data, but on the plus side it contends that FY24 numbers have been “more adequately de-risked after last quarter’s big cut,” the analyst tells investors in an earnings preview note. The firm trimmed FY25 estimates, but notes it still models double-digit EPS growth.
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:
- SBUX, DIS, or ET: Which Large-Cap Stock Could Generate the Best Returns?
- Starbucks price target lowered to $90 from $92 at JPMorgan
- Investors Prove Skeptical of Starbucks’ (NASDAQ:SBUX) Revitalization Plans
- Goldman Sachs Advises ‘Think Selective’ on Restaurant Stocks — Here Are 2 Names to Consider
- Starbucks Stock (NASDAQ:SBUX): Why Howard Schultz Is Likely Wrong