Goldman Sachs raised the firm’s price target on Starbucks (SBUX) to $95 from $85 but keeps a Neutral rating on the shares. The firm is encouraged by the increased clarity around the company’s turnaround strategy with the faster-than-expected rollout of the Green Apron service model in its U.S. stores, though it also prefers to remain on the sidelines and believes that it will take time for these initiatives to materialize from a profit standpoint, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SBUX:
- AI Daily: Nvidia working with European manufacturers on AI
- Citi ups Starbucks target, adds ‘upside 90-day short-term view’
- Early notable gainers among liquid option names on June 11th
- Starbucks: Balancing Growth Opportunities and Competitive Challenges in China and US Markets
- Starbucks price target raised to $100 from $95 at RBC Capital