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Citi Cuts Target on Starbucks to $89, Cities Peer Group Multiple Contraction

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In a note from Monday morning, Citigroup analyst Gregory Badishkanian maintained Starbucks Corporation's (NASDAQ: SBUX) Buy rating and lowered his price target from $93.00 to $89.00.

The firm cited inline Q1 results and guidance from Starbucks on Thursday, January 23rd. Badishkanian maintained FY14-16 estimates, but said his lowered price target was related to "multiple contraction by the peer group."

With Starbucks shares down 1 percent to around $74.16 at last check, Badishkanian's new price target represents potential upside of about 20 percent.

Latest Ratings for SBUX

DateFirmActionFromTo
Jul 2019MaintainsNeutral
Jul 2019Initiates Coverage OnBuy
Jul 2019DowngradesOutperformNeutral

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StockFirmActionPT
XELMaintains60.0
SOMaintains54.0
SREMaintains141.0
EXCMaintains56.0
ESMaintains77.0
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