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Fly News Breaks for June 20, 2018
SBUX
Jun 20, 2018 | 06:51 EDT
RBC Capital analyst David Palmer lowered his price target on Starbucks to $63 from $65 after yesterday's Q3 update that cut the company's view on comps, saying he is also lowering his FY18 EPS target to $2.42 from $2.53. The analyst cites a lower sales growth in U.S. and China markets, even though he remains "encouraged by accelerating digital user growth". Palmer keeps his Outperform rating on Starbucks, adding that the stock can be supported by accelerating capital return and a "reasonable" valuation.
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