Jefferies upgrades Starbucks to Hold, raising 12-month price target amid stabilized US ops and China deal.

Jefferies analyst Andy Barish upgraded Starbucks stock from Sell to Hold and raised the 12-month price target from $86 to $92, citing a new franchise deal in China that reduces international risk and stabilization in US operations. Despite this, the stock is still seen as somewhat overvalued with modest expected global growth of around 1.5-1.8% in 2026-2027. The broader Wall Street consensus remains moderately positive, with an average 12-month target near $100, reflecting a potential 4% rally. Analyst opinions vary, but recent revisions mostly align with a cautious outlook on Starbucks' turnaround progress.