BofA analyst Sara Senatore raised the firm’s price target on Starbucks to $125 from $109 and keeps a Buy rating on the shares. Now that China has "largely abandoned" its zero-COVID policy, Starbucks appears poised to benefit from an economic reopening, said Senatore, who adds that the "timing of this tailwind is still uncertain." Transitory China challenges and U.S. margin pressure creates "a particularly attractive buying opportunity," the analyst added.
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Published first on TheFly
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