BUZZ-Starbucks climbs as TD Cowen upgrades to 'buy'

Starbucks Corporation

Starbucks Corporation

SBUX

0.00

** Shares of coffee chain Starbucks SBUX.O rise nearly 1.4% to $107.4 premarket

** TD Cowen upgrades rating to "buy" from "hold"; raises PT to $120 from $106

** Says as SBUX prioritizes labor investments, margins are expected to recover supported by stronger sales growth, easing cost of goods sold (COGS) and incentivized cuts in non-core costs.

** "We gained a greater appreciation that Starbucks is in early innings of the North America (NA) revitalization, with greater longevity to the multifaceted turnaround fueled by operations, marketing, menu innovation, and loyalty"- TD Cowen

** 43 analysts rate the stock "hold" on average; median PT is $106 - data compiled by LSEG

** As of last close, SBUX up nearly 26% YTD


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