Starbucks "neutral," target price reduced

20.03.08 - Robert W. Baird

NEW YORK, March 20 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on Starbucks Corporation (SBUX). The target price has been reduced from $22 to $20.

In a research note published this morning, the analysts mention that the company has introduced certain measures to improve its US operating performance and strengthen the position of its brand in the long term. The analysts believe, however, that the measures would not have any impact on Starbucks? near-term results. The company has acquired The Coffee Equipment Company and plans to continue to launch individually the brewed, super-premium coffee made by the latter company?s Clover system, Robert W Baird adds.