Starbucks price target lowered to $106 from $124 at Barclays

Barclays lowered the firm’s price target on Starbucks (SBUX) to $106 from $124 and keeps an Overweight rating on the shares as part of a Q1 preview for the restaurant group. Comps were challenged by weather to start Q1, before a partial March rebound, the analyst tells investors in a research note. However, the firm says the lack of a full recovery is proof of an underlying easing in consumer spending. While most restaurants are insulated from tariffs from a supply chain impact, “not so much for the demand decline to follow,” the analyst tells investors in a research note.