Piper Jaffray analyst Nicole Miller Regan lowered her price target for Starbucks to $60 following last night's guidance reduction but keeps an Overweight rating on the shares. The analyst removed Starbucks from her "Pay for Performance group," and placed the stock in her "Recovery group" as she believes in the "long-term strategic plan offset by less near-term upside potential." She expects investors to react most positively to optimized U.S. store development. This is offset by a Q3 guide for up 1% global comp versus the up 3% consensus, Regan tells investors in a research note. However, the analyst believes the Americas comp remains positive. She thinks low expectations will "soften" the share selloff.