UBS has adjusted its price target for Starbucks shares from $85.00 to $95.00, while maintaining a neutral rating.
This adjustment comes after Starbucks reported fourth-quarter results that did not meet consensus estimates. In the U.S., same-store sales fell by 6%, while in China, same-store sales experienced a more significant drop of 14%. Despite these challenges, UBS remains optimistic about potential improvements in U.S. sales trends in the first fiscal quarter.
Various analyst firms have adjusted their ratings on Starbucks in response to these developments. Starbucks continues to maintain a robust market position, with a market capitalization of $109.72 billion. The company has a history of increasing its dividend and may appeal to income-oriented investors.
The upcoming earnings call is expected to provide more information on Starbucks' strategic initiatives and its path forward.