Starbucks price target lowered to $98 from $106 at Barclays

Barclays lowered the firm’s price target on Starbucks (SBUX) to $98 from $106 and keeps an Overweight rating on the shares following the fiscal Q2 report. The company’s margin and earnings disappointed, which will pressure the stock’s valuation, the analyst tells investors in a research note. The firm says Starbucks’ turnaround will take time, but early signs are emerging. ” Patience is required, and in a slowing macro, patience will be tested,” contends Barclays.