Starbucks price target raised to $110 from $105 at Wells Fargo

Wells Fargo analyst Zachary Fadem raised the firm’s price target on Starbucks (SBUX) to $110 from $105 and keeps an Overweight rating on the shares. While still EBIT sticking points, it’s certainly easier to underwrite a turnaround when comparable-store sales are positive, the firm says. Starbucks’ 4% growth in Q1 cleared a rising bar, FY26 outlook screens achievable and Analyst Day likely highlights long-term drivers/algorithm, and potential lifts EBIT margin percentage, Wells says.