Starbucks (SBUX) PT Lowered to $115 at Morgan Stanley

Morgan Stanley analyst Brian Harbour lowered the price target on Starbucks (NASDAQ: SBUX) to $115.00 (from $120.00) while maintaining a Overweight rating.

The analyst comments "We are reducing 2Q/FY estimates to below guidance, investors likely below us, but we continue to see interesting risk/reward skew. Costs a focus and will influence how guidance does (or doesn't) change. Here we also dig into some recent MS China survey results and Nielsen data on bottled beverages."

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