Stifel Downgrades Starbucks (SBUX) to Hold, Negative EPS Revisions

Stifel downgraded Starbucks (NASDAQ: SBUX) from Buy to Hold with a price target of $58.00 (from $66.00).

Analyst Mark Astrachan believes deceleration in global comp growth signals a mix of macroeconomic pressures in retail and restaurants as well as share loss. The loss of market share implies the company may need to increase investment to change the current path which may lead management to reduce EPS growth targets in Q4.

FY 2017 EPS estimate falls from $2.11 to $2.07 and FY 2018 EPS estimate falls from $2.37 to $2.28.

For an analyst ratings summary and ratings history on Starbucks click here. For more ratings news on Starbucks click here.

Shares of Starbucks closed at $59.50 yesterday.

You May Also Be Interested In

• JPMorgan Starts Kanzhun Ltd (2076:HK) at Overweight
• Freedom Broker Starts Unity Bancorp (UNTY) at Hold
• JPMorgan Assumes Kanzhun Ltd. (BZ) at Overweight