Starbucks price target raised to $117 from $93 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Starbucks to $117 from $93 and keeps a Hold rating on the shares. Based on tracking of mobile location data, the firm expects U.S. comps to be up 12%, versus the Street forecast for growth of 10%, when the company reports fiscal Q1 results after the close on February 2. The firm, which also raised its FY23 U.S. comp projection to 11% from 10%, versus the Street at 7.9% and guidance for 7%-9% growth, views the near-term risk/reward as "favorable."