Guggenheim analyst Gregory Francfort raised the firm’s price target on Starbucks (SBUX) to $90 from $79 and keeps a Neutral rating on the shares. The firm takes its 2026 EPS view “down again” to $2.45 from $2.65, but is “willing” to push its target multiple on FY27 estimates up to get to a new $90 price target as it thinks new CEO Brian Niccol’s strategy of reinvestment and operational efficiencies “generally makes sense.” However, the firm would also want investors to be “compensated more substantially for the risk of earnings recovery” if it were to rate the shares a Buy, the analyst added.
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