Starbucks Q2 earnings preview shows US demand stabilizing but mixed international outlook.

Starbucks is set to report its fiscal Q2 earnings on April 28, with analysts divided on the outlook. Jefferies expects US same-store sales to improve modestly by 4%, but remains cautious on international markets like China due to competition and joint venture changes. UBS is more optimistic, forecasting a 6% rise in North America sales driven by menu innovation and operational improvements. Both firms highlight challenges ahead, including sustaining growth amid economic pressures, with price targets near current valuations reflecting limited upside.