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Trouble Brewing? 3 Reasons Starbucks May Be Losing Its Java Mojo

From www.investors.com

Starbucks (SBUX) was downgraded Thursday over fears the company will see slower growth, including from its ambitious plans to expand in China.

Wedbush Securities lowered its rating for the coffee giant’s shares to neutral from outperform and slashed its price target to 56 from 70. Its fiscal 2018 EPS estimate was also trimmed to $2.48 from $2.50 and its fiscal 2019 view was cut to $2.79 from $2.84.

“We no longer see drivers of upside to (same-store sales) growth and EPS consensus expectations in FY18, and see rising risks to FY19 expectations,” Wedbush’s Nick Setyan said in a research note.

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