Goldman Sachs Downgrades Starbucks (SBUX) to Neutral

Goldman Sachs downgraded Starbucks (NASDAQ: SBUX) from Conviction Buy to Neutral and maintained their $44 price target.

The firm remains positive on the stock but notes it has approached our $44 price target, they no longer see the likelihood of meaningful EPS upside. In addition estimates are lowered to reflect more modest SSS assumptions as the company is the most levered to the macro backdrop

For more ratings news on Starbucks click here and for the rating history of Starbucks click here.

Shares of Starbucks closed at $40.42 yesterday.

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