Wells Fargo Maintains Overweight on Starbucks, Lowers Price Target to $120
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Zachary Fadem has maintained an Overweight rating on Starbucks (NASDAQ:SBUX) but lowered the price target from $125 to $120.

July 19, 2023 | 12:20 pm
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Starbucks' price target has been lowered from $125 to $120 by Wells Fargo, though the Overweight rating is maintained.
The lowering of the price target by Wells Fargo could potentially create a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintained Overweight rating indicates that the analyst still sees potential upside, which could counterbalance the negative impact.
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