BMO Capital raised the firm’s price target on Starbucks (SBUX) to $120 from $115 and keeps an Outperform rating on the shares. The company’s Investor Day reaffirmed the firm’s confidence in turnaround plan and significant EPS growth potential in coming years, the analyst tells investors in a research note. Starbucks’s FY28 targets are achievable with upside potential, putting it on potential path for EPS of $5+ by FY30 driven by well-rounded slate of sales drivers, the firm added.
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