Starbucks price target raised to $103 from $92 at Guggenheim

Guggenheim analyst Gregory Francfort raised the firm’s price target on Starbucks to $103 from $92 and keeps a Neutral rating on the shares. A reopening of China and greater confidence in management’s defense of U.S. margins makes hims "more optimistic about the earnings profile," but he also has "a hard time stretching the multiple significantly" ahead of what he expects to be a weakening U.S. consumer backdrop, Francfort tells investors.