Morgan Stanley raised the firm’s price target on Starbucks (SBUX) to $105 from $103 and keeps an Overweight rating on the shares. Fiscal Q4 is unlikely to beat expectations or “mark a major step forward” yet, but this probably was not the baseline expectation anyway, the analyst tells investors in a preview. The firm models North American same-store sales to be down 1% and lowered its EPS forecast to 56c, versus the Street at 57c, the analyst noted.
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