TD Cowen analyst Andrew Charles raised the firm’s price target on Starbucks (SBUX) to $89 from $84 and keeps a Hold rating on the shares. With better visibility provided on 2028 EPS guidance, and shares trading at peak 32-times forward-earnings multiple, Starbucks looks like a momentum story, the analyst tells investors in a research note. Should Q1’s 4% North America SSS accelerate with a multitude of drivers shared, the firm expects multiple expansion to follow, TD Cowen added.
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