Starbucks price target raised to $125 from $120 at Wells Fargo

Wells Fargo raised the firm’s price target on Starbucks to $125 from $120 and keeps an Overweight rating on the shares following quarterly results. While China comps of +3% didn’t quite match bullish expectations, Q1 results were impressive via accelerating comps, elevated flow through and a double-digit EPS beat, the firm notes. Wells also points out that the second half of the year outlook features some "head scratchers," but sees conservatism and buying weakness.