secretstalks
Jefferies analysts have recently issued a rare sell-equivalent rating for Starbucks Corp., indicating that it’s too early to be optimistic about the company’s recovery despite the appointment of a new CEO, Brian Niccol. While Starbucks shares have risen 24% since the leadership change, analyst Andy Barish believes this rally is unwarranted due to complex challenges ahead, including operational issues, cultural shifts, and technology upgrades.
Barish’s price target of $76, the lowest among market analysts, suggests a potential 20% decline from the stock’s recent closing price of $95.48. His assessment marks a shift to “underperform” for Starbucks, contrasting with other analysts who have upgraded the company following the leadership change. This is Barish’s first sell-equivalent rating for Starbucks since he began coverage in 2011.
Starbucks has struggled this year with declining sales as customers become hesitant to spend on premium-priced beverages. The stock fell 2.2% in premarket trading, reflecting ongoing market concerns.
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