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. The firm said with better visibility provided on 2028 EPS guidance, and shares trading at peak 32x FY2 P/E, they view Starbucks as a momentum story, and should 1Q’s 4% NA SSS accelerate with a multitude of drivers shared, they expect multiple expansion to follow.
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