Starbucks price target lowered to $88 from $100 at Citi

Citi lowered the firm’s price target on Starbucks (SBUX) to $88 from $100 and keeps a Neutral rating on the shares as part of a fiscal Q2 earnings preview. The firm believes tariff and macro uncertainty make Starbucks less likely to offer anchors for fiscal 202 estimates. Macro concerns present a “disproportionate challenge” for a turnaround in the company’s premium and habitual category, the analyst tells investors in a research note. Citi says that barring firm commentary on a better than expected cost number, it does not see the stock’s narrative inflecting positively post the earnings print.