Deutsche Bank Downgrades Starbucks to Hold, Lowers Price Target to $89
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Brian Mullan downgraded Starbucks (NASDAQ:SBUX) from Buy to Hold and reduced the price target from $108 to $89.
May 01, 2024 | 9:34 am
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Starbucks was downgraded by Deutsche Bank from Buy to Hold with a price target reduction from $108 to $89.
The downgrade by a major bank like Deutsche Bank, along with a significant reduction in the price target, is likely to negatively impact investor sentiment towards Starbucks in the short term. This could lead to a decrease in stock price as investors adjust their expectations based on the new analyst rating and price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100