Starbucks price target raised to $103 from $95 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Starbucks (SBUX) to $103 from $95 and keeps an Overweight rating on the shares. Starbucks “likely remains a story-driven stock with actual estimates already quite tempered,” argues the analyst, who adds that the call offered “a few underlying messages that we thought point in a more bullish direction.” The narrative, which is driving this stock, still “seems positive,” the analyst added in a post-earnings note.