Citi analyst Jon Tower raised the firm’s price target on Starbucks to $99 from $98 and keeps a Neutral rating on the shares ahead of its results. Investors are bracing for a Q4 that includes a soft U.S. comp, weaker China comp, negative EPS growth and a long-term guidance pull, but the firm does not believe that the management will offer guidance on FY25 or specifics around the long-term remedies for the ailing global business, the analyst tells investors in a research note. The range of outcomes for multi-year top-line and EPS growth is wide, and the new Starbucks CEO will likely defer on providing longer-term guidance until he spends more time in the business, the firm added.
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:
- Class Action Lawsuit Against Starbucks Corporation (NASDAQ:SBUX)
- Starbucks adds two new coffee innovation farms in Guatemala and Costa Rica
- Starbucks (NASDAQ:SBUX) Secures Coffee Supply with Farm Investment
- Is Starbucks (NASDAQ:SBUX) Stock a Buy Ahead of Its Path to Recovery?
- Starbucks price target raised to $105 from $90 at JPMorgan