Starbucks dips after Deutsche Bank heads to the ratings sidelines
JohnFScott

Deutsche Bank turned cautious on Starbucks Corporation (NASDAQ:SBUX) on Monday after determining that the risk-reward profile on the coffee store operator is balanced at the moment.
The firm cut its rating on SBUX to Hold from Buy after factoring in the recent share price runup past $100 per share.
"In essence, with SBUX, we think the easy part of the move has probably taken place with the stock at ~$105, which is the reason for the ratings change at this point in time. We consider ourselves to be truly neutral at current levels; neither positive nor negative," noted analyst Brian Mullan.
Deutsche Bank assigned a price target of $106 to SBUX vs. the average Wall Street price target of $99.63.
Shares of Starbucks (SBUX) fell 1.66% in premarket trading on Monday to $103.31.
The Seeking Alpha Quant Rating on Starbucks (SBUX) is also flashing Hold due to low marks for valuation and growth.
Read the latest breakdowns on Starbucks (SBUX) from Seeking Alpha contributors.