Articles / global-fx-macro / Starbucks has ripped higher this year. TD Cowen sees more room to run

Starbucks has ripped higher this year. TD Cowen sees more room to run

Price Target Increase

$120

TD Cowen raised its price target on Starbucks shares from $106 to $120.

Same-Store Sales Growth

Analyst Andrew Charles forecasts a 4% increase in same-store sales for Starbucks in fiscal year 2028.

Stock Year-to-Date Increase

26%

Starbucks' stock has risen 26% year to date.

⦿ Executive Snapshot

What: TD Cowen upgraded Starbucks' stock rating from hold to buy, raising the price target.
Who: TD Cowen, Starbucks, Analyst Andrew Charles.
Why it matters: This upgrade reflects confidence in Starbucks' strategic shift and potential for positive sales growth amidst a recovering market.

TD Cowen raised its price target on Starbucks shares from $106 to $120, indicating a potential 13% upside.
Analyst Andrew Charles forecasts a 4% increase in same-store sales for Starbucks in fiscal year 2028, surpassing the Street's consensus estimate of 3.4%.
Starbucks' stock has risen 26% year to date, marking its first annual gain if sustained through the end of the year.

Starbucks experienced a sales slump for nearly two years starting in 2023, but began reversing this trend late last year.
The company's

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