Starbucks price target lowered to $106 from $117 at BofA

BofA analyst Sara Senatore lowered the firm’s price target on Starbucks (SBUX) to $106 from $117 and keeps a Buy rating on the shares. The firm thinks Starbucks’ continued sequential improvement in traffic, including turning positive in September, despite the increasingly strong macro headwinds, signals that the turnaround strategies are working, the analyst tells investors. The firm lowered its FY26 EPS forecast to $2.22 from $2.66 as it incorporates slower top line growth and higher inflation, the analyst noted.