The road ahead for starbucks (SBUX.US) to reverse the downturn is long, and it is rare to be downgraded by major Wall Street banks.
Jefferies analyst warned in a research report that even with a new CEO, it is too early to be excited about starbucks' prospects of turning things around, and the struggling coffee chain operator has been rare to receive a 'sell' rating.
Jefferies Downgrades Starbucks(SBUX.US) to Sell Rating, Cuts Target Price to $76
Jefferies analyst Andy Barish downgrades $Starbucks(SBUX.US)$ to a sell rating, and adjusts the target price from $80 to $76.According to TipRanks data, the analyst has a success rate of 57.4% and a
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US stocks unusual | starbucks pre-market drop more than 2%, FURUI downgrades its rating and target price.
September 24th, Starbuck's (SBUX.US) pre-market trading in the United States fell more than 2% to $93.45. In terms of news, Jefferies Financial downgraded Starbucks from hold to underperform and lowered the target price from $80 to $76. Previously, Starbucks adjusted its management structure in China: Lu Wenjuan was appointed as the CEO of Starbucks China, while Wang Jingying continues to serve as the director of Starbucks China.
Express News | Starbucks : Jefferies Cuts to Underperform From Hold; Cuts Target Price to $76 From $80