BTIG analyst Peter Saleh raised the firm’s price target on Starbucks to $120 from $110 and keeps a Buy rating on the shares. The analyst is positive on the company’s sales recovery and ramping earnings momentum, noting that its prior momentum is returning as coronavirus disruption fades and customer mobility returns. Saleh also states that store unionization initiative has little impact or leverage with customers as his proprietary survey indicates that they are unlikely to abandon Starbucks or change their habits if a labor agreement is not reached.
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