BMO Capital raised the firm’s price target on Starbucks (SBUX) to $110 from $100 and keeps an Outperform rating on the shares. The firm has reviewed the early tenure of incoming CEO Brian Niccol at Chipotle (CMG), noting that a positive catalyst cycle could materialize relatively quickly from communicating strategic priorities and implementation, the analyst tells investors in a research note. Investor focus should remain on the longer-term potential for Starbucks under the new leadership, even though the firm is reducing its FY25 and FY25 EPS views by 5c each to $3.53 and $3.94 respectively.
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