Starbucks price target lowered to $95 from $98 at Wedbush

Wedbush lowered the firm’s price target on Starbucks (SBUX) to $95 from $98 and keeps a Neutral rating on the shares following quarterly results. The firm believes Starbucks’ current valuation appropriately reflects increasingly limited near-term top- and bottom-line visibility, offset by some level of confidence in management’s ability to deliver longer-term annual operating margin expansion and EPS growth in line with historical growth rates.