Citi analyst Jon Tower raised the firm’s price target on Starbucks (SBUX) to $99 from $92 and keeps a Neutral rating on the shares ahead of the fiscal Q2 report. The firm says Starbucks’ results should “buffer” its near-term bull sales recovery thesis. The company’s store closures and marketing initiatives likely pushed its same-store-sales above consensus, the analyst tells investors in a research note.
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