Argus upgrades Starbucks to Buy on higher traffic and comps view

As previously reported, Argus upgraded Starbucks (SBUX) to Buy from Hold with a $115 price target The firm contends that the company’s emphasis on digital improvements, brand marketing, and fewer sales promotions offer promise as it raises its FY25 EPS view by 3c to $3.18, the analyst tells investors in a research note. Argus also believes that menu simplification and store remodeling are likely to increase customer traffic and raise same-store sales for Starbucks.