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☆ Analysts bail on Starbucks with 2 downgrades, slashed price targets. 'Stunning across-the-board miss,' says Blair
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

But Deutsche kept its $89 price target, which suggests the stock could gain just 0.6%, as of Tuesday's close. Starbucks stock hasn't logged a positive year since 2021. Bank of America's Sara Senatore maintained her buy rating and $108 price target, which implies roughly 22% potential upside — a fairly bullish aim compared with other firms. Underpinning Senatore's stance is her expectation that Starbucks' earnings growth will reaccelerate in 2025, fueled by traffic-driving initiatives, such as more menu innovation and operational improvements. JPMorgan analyst John Ivankoe kept his overweight rating but moved his price target lower to $92 from $100.

Persons: William Blair, Sharon Zackfia, Zackfia, Lauren Silberman, Deutsche, Wells, Bank of America's Sara Senatore, Laxman Narasimhan, John Ivankoe Organizations: Starbucks, Deutsche Bank, JPMorgan, UBS, Bank of America, Bank of America's Locations: Tuesday's, U.S, China, Wells Fargo, Israel

A railroad stock and a fast food giant were in focus Wednesday among early analyst calls. Barclays raised its rating on Norfolk Southern to a buy-equivalent rating, and his new price target calls for about 20% upside. The firm downgraded the retailer to reduce from hold and maintained a $323 per share price target. — Brian Evans 5:44 a.m.: Barclays upgrades Norfolk Southern Norfolk Southern could see a shake-up to its leadership, and Barclays thinks these changes could lead to strong gains for the stock. He also hiked his price price target to $305 from $255.

Persons: SolarEdge's, Morgan Stanley, Andrew Percoco, Goldman Sachs, Brian Lee, SEDG, Vikram Bagri said.Bagri, — Brian Evans, Piper Sandler, Piper Sandler's, Rob D, Owens, Brian Evans, Daniela Bretthauer, John Ivankoe, Brandon Oglenski, Ancora, It's, Alan Shaw, Oglenski, Fred Imbert Organizations: CNBC, Barclays, Norfolk, JPMorgan, Palo Alto Networks, billings, Palo Alto, HSBC downgrades Home, Depot, HSBC, Home Depot, JPMorgan downgrades, Norfolk Southern, NSC Locations: Wendy's, Norfolk Southern Norfolk Southern, Norfolk Southern, Norfolk

ET: Bank of America upgrades Penn Entertainment to buy Shares of Penn Entertainment could take off with the company's new initiative, according to Bank of America. ET: Deutsche Bank upgrades Boeing, says free cash flow will boost shares Deutsche Bank thinks there's a bright future ahead for Boeing . And if that's correct, then the momentum on deliveries should carry through to a positive inflection in FCF revisions," wrote analyst Scott Deuschle. Bank of America analyst Alex Vrabel downgraded the electric vehicle charging firm to neutral from buy. "FUN management has achieved more consistent execution, which should translate well to SIX rich asset based structure," wrote analyst David Katz.

Persons: Shaun Kelley, Kelley, Lisa Kailai Han, Scott Deuschle, Deuschle, — Lisa Kailai Han, Caio Ribeiro, Riveiro, Alex Vrabel, Wolfe, Shreyas Patil, Vrabel, Wolfe Research's Patil, Jefferies, David Katz, John Ivankoe, Krispy, Fred Imbert Organizations: CNBC, Deutsche Bank, Boeing, JPMorgan, Bros, Bank of America, Penn Entertainment, ESPN Bet, Atlantic City, PENN, Vale, VALE, Wolfe Research Bank of America, Wolfe Research, ChargePoint, Jefferies, Six Flags, Cedar, Flags, Fair, North, Dutch Bros Locations: Chicago, Tunica, Atlantic, PENN, Bank, North America

☆ JPMorgan says buy this restaurant stock that can go up nearly 20%
▼ + stars: | 2023-08-21 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

JPMorgan thinks Restaurant Brands International is poised for more growth. The firm initiated coverage of the restaurant conglomerate with an overweight rating in a Monday note, accompanied by an $82 per share price target. The analyst added that the breadth of company growth will be driven by the internationally-exposed businesses including Burger King, Tim Hortons and Popeyes. Restaurant Brands has has added 6% in 2023. QSR YTD mountain Restaurant Brands has added more than 6% in 2023.

Persons: John Ivankoe, Tim Hortons, Burger King, Patrick Doyle, Ivankoe, — CNBC's Michael Bloom Organizations: JPMorgan, Brands Locations: capex, Burger

☆ JPMorgan says buy this 'well managed' Mediterranean restaurant chain with attractive expansion opportunities
▼ + stars: | 2023-07-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

JPMorgan is gaining confidence in shares of Cava even after its 80% post- initial public offering run. CAVA YTD mountain Cava shares since going public "We agree with the market's implicit positive view on the medium/long term story of CAVA," he wrote in a Monday note. Key to Ivankoe's investment rationale is Cava's well-managed model and large end-market opportunities as a Mediterranean chain. A Mediterranean 'category killer' Other Wall Street firm's also initiated coverage of Cava with overweight and buy ratings. Elsewhere, Stifel's Chris O'Cull called Cava a "compelling restaurant growth investment" with a justified premium valuation given its "impressive unit-level economics" and expansion opportunities.

Persons: John Ivankoe, CAVA, firm's, Alexander Slagle, Piper Sandler's Brian Mullan, Stifel's Chris O'Cull, Morgan, Brian Harbour, — CNBC's Michael Bloom Organizations: JPMorgan, D.C, Cava, Jefferies Locations: Cava, CAVA, Washington

☆ JPMorgan highlights its top stock picks heading into July
▼ + stars: | 2023-07-07 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

JPMorgan updated its list of top stock picks for July, as investors are now eyeing the second half of the year. To kick off this month, JPMorgan added Domino's Pizza and Dollar General to its focus list. Domino's Pizza stock has slipped more than 3% in 2023, but it's still rated overweight by JPMorgan analyst John Ivankoe. Holdovers from previous iterations of the focus list include tech stocks Amazon and Microsoft . JPMorgan removed multimedia stock Avid Technology from its focus list earlier this week.

Persons: John Ivankoe, Stifel, Brian Cheng, Morgan Stanley Organizations: JPMorgan, Nasdaq, Sciences, Microsoft, Federal Trade Commission, Amazon Prime, Avid Technology Locations: OpenAI's

☆ JPMorgan upgrades Domino's, calling the pizza chain 'too cheap'
▼ + stars: | 2023-06-01 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

JPMorgan Chase thinks Domino's Pizza's stock is trading at a discount compared with what the company charges for key products. The firm upgraded Domino's to overweight from neutral Thursday with a $360 price target, up from $340, representing potential 24% upside from the $289.85 close Wednesday. Domino's stock is down 16.3% since the start of 2023. DPZ YTD mountain Some pressure on Domino's stock so far this year isn't swaying JPMorgan's upgrade to overweight. Ivankoe added Domino's franchisees don't have many reasons to decide to close stores, given the average U.S. franchise owner oversaw seven stores with roughly $140,000 each in free cash flow in 2022.

Persons: JPMorgan Chase, Domino's, John Ivankoe, Ivankoe, — CNBC's Michael Bloom Organizations: JPMorgan

☆ JPMorgan upgrades Dutch Bros. to overweight, says shares look attractive given 2022 pullback
▼ + stars: | 2022-10-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

JPMorgan Chase says shares of Dutch Bros. look attractive after tumbling 42% this year. To be sure, Dutch Bros. is not immune to consumers cutting back on spending if a downturn comes. He noted that the company's drive-through and pickup window continue to attract many younger clients. "Near-in operational efficiencies and additional pricing should allow a return to margin growth in the current 4Q22 and beyond," Ivankoe wrote. "We note that the forecast capital intensity has gone up since initiation, and bank financing is being used to fund the negative FCF business."

☆ Starbucks soars after its investor day. Here's what Wall Street analysts had to say
▼ + stars: | 2022-09-14 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

BTIG Starbucks' investor day "lived up to expectations," according to BTIG analysts Peter Saleh and Ben Parente. Ivankoe noted that, in December 2016, Starbucks released a five-year strategic plan that called for annual EPS growth between 15% and 20%. "We think investors had also expected more conservative guidance to provide room for the incoming CEO and return to a beat & raise story," the analysts wrote. Wedbush Wedbush analysts Nick Setyan and Michael Symington were more muted in their reaction to Starbucks' investor day. China, a view that, to us, seems equally out of place given ongoing global macro headwinds," the analysts wrote.

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