Guggenheim raised the firm’s price target on Starbucks (SBUX) to $95 from $93 and keeps a Neutral rating on the shares. Following earnings, the firm made several changes to its model for the next several years, lowering margins but boosting same store sales modestly as a result of ongoing strategic shifts at the company under new CEO Brian Niccol, notes the analyst, who also upped the multiple applied to its 2027 EPS estimate and rolled forward the firm’s valuation basis by a year.
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