What's Going On With Starbucks Shares Today?

Starbucks Corporation SBUX shares are trading higher by 6.96% to $79.50 during Wednesday’s pre-market session. The company reported better-than-expected second-quarter sales during Tuesday’s after-hours session.

Starbucks reported quarterly earnings of 59 cents per share which met the analyst consensus estimate. The company also reported quarterly sales of $7.64 billion which beat the analyst consensus estimate of $7.60 billion.

  • Cowen & Co. analyst Andrew Charles maintained Starbucks with an Outperform and lowered the price target from $115 to $94.
  • Evercore ISI Group analyst David Palmer upgraded Starbucks from In-Line to Outperform and announced a $95 price target.
  • Piper Sandler analyst Nicole Miller Regan maintained Starbucks with a Neutral and lowered the price target from $100 to $80.
  • Barclays analyst Jeffrey Bernstein maintained Starbucks with an Overweight and lowered the price target from $108 to $94.
  • Citigroup analyst Jon Tower maintained Starbucks with a Neutral and lowered the price target from $91 to $76.
  • Credit Suisse analyst Lauren Silberman maintained Starbucks with an Outperform and lowered the price target from $122 to $103.
  • RBC Capital analyst Christopher Carril maintained Starbucks with a Sector Perform and lowered the price target from $86 to $85.
  • Morgan Stanley analyst John Glass maintained Starbucks with an Equal-Weight and lowered the price target from $94 to $87.

See Also: Why Lyft Shares Are Slamming The Brakes Today

Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 34,300 stores.

According to data from Benzinga Pro, Starbucks has a 52-week high of $126.32 and a 52-week low of $73.38.

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