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Street View: Starbucks brews growth optimism

By Reuters News

** Starbucks SBUX.O forecast annual profit above Wall Street expectations on Thursday and unveiled a $1 billion share repurchase plan, signaling confidence that Chief Executive Brian Niccol's sweeping overhaul of the coffee chain is beginning to gain traction

** Shares of coffee chain rise nearly 1% to $106.5 premarket

A CUP HALF FULL

** Morgan Stanley ("overweight," PT: $116) says SBUX will continue and expand its strategy through FY27, with sustained comparable sales growth and traffic will be key, and believes co still has opportunities for further growth

** TD Cowen ("buy," PT: $120) expects SBUX to focus more on the afternoon business through new drinks and marketing, while caffeine-free refreshers could help drive engagement with kids

** Gordon Haskett ("hold," PT: $114) sees SBUX’ long list of operations, cost control and top-line drivers continuing to deliver in FY27

** Morningstar (Fair Value: $89) says, "despite a challenging macro backdrop, Starbucks’ investments in remodels, service, menu innovation, and marketing strengthen its premium positioning and drive sales growth"

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