SBUX - Starbucks Ailed By Slower Top-line Stiff Competition: Analyst Cuts Forecast | Benzinga
Guggenheim analyst Gregory Francfort reiterated a Neutral rating on Starbucks Corporation (NASDAQ:SBUX), lowering the price target to $100 from $101.
The company’s first-quarter revenue increased 8% year-over-year to $9.4 billion, which missed the consensus estimate of $9.59 billion. Starbucks reported quarterly earnings of 90 cents per share, which missed analyst estimates of 93 cents per share.
Following the results, the analyst lowered 2024 adjusted EPS estimate to $4.00 from $4.05, citing increased competition in the U.S. market that will ...