Starbucks price target lowered to $85 from $95 at UBS

UBS analyst Dennis Geiger lowered the firm’s price target on Starbucks to $85 from $95 and keeps a Neutral rating on the shares. Pressured Q2 results included “depressed” global same store sales and margin and earnings downside, while Starbucks highlighted strategic plans to support an improved sales trajectory, the analyst tells investors in a research note. The firm expects pressured transactions for at least the remainder of the year and says limited visibility into the timing of an inflection in U.S. and China sales will likely weigh on shares.