Investing.com - Starbucks reported Tuesday mixed fiscal third-quarter results, with earnings matching and revenue missing Wall Street estimates as weaker sales in China weighed.earnings of $0.93 on revenue of $9.1 billion. Analysts polled by Investing.com anticipated EPS of $0.93 cents on revenue of $9.25B.
China comparable store sales declined 14%, driven by a 7% decline in both average ticket and comparable transactions. Analysts maintained a Sector Weight rating on the stock, stating they"believe the stock’s current valuation at 21.5x FY24 EPS fairly balances the NT uncertainty with its potential to return to sustained growth over the LT."
Analysts reaffirmed a Hold rating and the price target of $81 on the stock as they"do not expect this path to generate multiple expansion."Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.