Movement Alert｜Starbucks Intraday Decline 3.02%, Investment Banks Cut Target Prices and Sugar Lawsuit Weigh

Market Focus03:47

On October 8, Starbucks fell 3.02% in regular trading, trading at $93.19 per share, with turnover of $525 million. The decline came amid mixed investment bank target price adjustments and a consumer lawsuit over sugar content in beverages labeled as sugar-free.

Specifically, Baird lowered its price target from $124 to $115 while keeping an Outperform rating, JPMorgan cut its target from $112 to $105 with an Overweight rating, and Rothschild & Co Redburn raised its Sell-rated target slightly to $82. Analysts polled by FactSet show an average rating of overweight and a mean target near $112.

Additionally, a lawsuit filed in Seattle alleges that eight protein drinks labeled as sugar-free actually contain between 7 and 11 grams of sugar per 12-ounce serving, with Starbucks stating the sugar comes from milk and no added sugar was used. The stock is reacting to these simultaneous legal and rating pressures.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment