.September 24, 2024 03:00:13 AM

Jefferies downgrades Starbucks Corporation (NASDAQ:SBUX) to ‘Underperform’ with a new price target of $76, signaling a bearish outlook. Despite this, the appointment of Brian Niccol as CEO has driven a 22% surge in Starbucks’ share price, sparking optimism among investors. Market sentiment remains positive, with expectations of earnings growth in FY 2025 under Niccol’s leadership. The stock’s current valuation suggests it is undervalued, with a bullish technical chart indicating promising future prospects. Despite challenges, Starbucks’ position in the market remains strong, with a market capitalization of approximately $108.2 billion and significant trading volume.