Starbucks (SBUX) – Get Report management team issued a letter to shareholders outlining what the financial impact the coronavirus will have on the company. The near-term impact, according to an analyst, might last longer than just the second quarter, but the worst looks to be behind the company and the stock.
Shares fell 1.69% to $74.90 Friday. It’s down roughly 20% from its 2020 high of $93, as earnings expectations have had a few isolated jolts downward to start 2020, in light of the virus.
Let’s walk through what management said, what a Cowen analyst said and what to expect from the stock.