Starbucks stock rises after Jefferies upgrades to Hold, citing China exit and U.S. business stabilization.

Jefferies upgraded Starbucks stock to Hold from Underperform, raising its price target to $92 due to improved risk from Starbucks' China franchise exit and a stabilizing U.S. business. The China joint venture reduces operational burdens and expenses, while U.S. transaction growth signals a turnaround after eight quarters of decline. Despite optimism, Jefferies warns the stock's high valuation leaves little room for error. Starbucks plans an Investor Day on April 14, which may influence future stock movement.