Evercore ISI Downgrades Starbucks, Lowers PT to $80 from $92 Amid Disappointing Sales Trends

Evercore ISI has downgraded Starbucks (SBUX) to 'In-Line' and lowered its price target (PT) to $80 from $92. The downgrade comes amid disappointing same-store sales trends domestically, despite low investor expectations and an attractive valuation relative to historical averages. Following the downgrade, Starbucks stock saw a 1% increase, which some traders speculate might indicate a bottom.