Jefferies says sell Starbucks over high valuation, ‘questionable strategic priorities’
Investors should dump Starbucks , according to Jefferies. The research firm downgraded the coffee chain to underperform from hold. Analyst Andy Barish’s $76 price target also signals downside of 18% from Wednesday’s close. Shares have rallied more than 13% over the past three months, a move which Barish thinks is disconnected from the company’s reality….