Wedbush raised the firm’s price target on Starbucks (SBUX) to $100 from $95 and keeps an Outperform rating on the shares. The firm sees signs of stabilization ahead of easy year-over-year compares, but notes that heavy lifting remains. Wedbush believes an in-line multiple is warranted given its expectation of trough earnings in FY25 and the expectation that Starbucks will regain a growth rate similar to historical growth rates starting in FY26.
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