Analysts brew up new Starbucks stock price targets after earnings

Following a disappointing fiscal second-quarter earnings report, analysts have revised their stock price targets for Starbucks. The company reported a decrease in earnings per share and missed revenue expectations, leading to a reduced forecast for fiscal 2024. The decline was attributed to lower transaction numbers in North America and significant sales drops in China. Starbucks CEO Laxman Narasimhan highlighted economic challenges and competitive pressures, while former CEO Howard Schultz emphasized the need for a renewed focus on customer experience.