Green Apron, Red Flag? Starbucks Analysts Wonder About $500 Million Investment As Sales Slump

Shares of Starbucks Corp (NASDAQ:SBUX) were under pressure in early trading on Wednesday, after the company Tuesday reported downbeat fiscal third-quarter earnings.

Here are some key analyst takeaways.

Piper Sandler analyst Brian Mullan reiterated an Overweight rating, while raising the price target from $102 to $105.

TD Cowen analyst Andrew Charles maintained a Hold rating, while lifting the price target from $90 to $95.

Oppenheimer analyst Brian Bittner reaffirmed a Perform rating on the stock.

Check out other analyst stock ratings.

Piper Sandler: Starbucks' U.S. business same-store sales contracted by 2%. Meanwhile, the coffee chain will deploy its Green Apron service model to all U.S. stores by mid-August.

This is significantly earlier than what management had previously communicated, Mulla said in a note. The initiative has "the potential to ...