JPMorgan analyst John Ivankoe raised the firm’s price target on Starbucks to $114 from $100 and keeps an Overweight rating on the shares. Restaurants are "seeing a remarkable combination of events," with greater clarity on food and labor cost inflation being matched with the highest year-over-year menu pricing, said Ivankoe as he highlights who he thinks are the likely "winners" in the space as commodity, labor and energy disinflation is matched with still-solid underlying consumption.
Published first on TheFly
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