Barclays lowered the firm’s price target on Starbucks (SBUX) to $108 from $110 and keeps an Overweight rating on the shares following the earnings report. The call highlighted a large number of short and long term initiatives to strengthen the brand, but here is no quick fix, the analyst tells investors in a research note. The firm says that for large-cap, growth investors, “the vision is in place.” It tells investors to “not wait too long” as the shares are likely to rally ahead of the turnaround.
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