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A new endorsement of Starbucks from a top Wall Street research firm doesn't budge our skepticism about the coffee giant's ability to deal with the multiple challenges holding back its stock. Goldman Sachs on Thursday initiated coverage of Club name Starbucks with a buy rating and a $100-per-share price target. That price target represents more than 25% upside to the prior session's close. That night, we downgraded the stock to a 2 rating and cut our price target to $90 per share. A store of Starbucks Coffee shop chain located in Amsterdam city center with people sitting inside, enjoying a coffee after shopping in the cafe, while others are walking by.
Persons: Goldman Sachs, Jim Cramer, Goldman, Jim, Laxman Narasimhan, Narasimhan, Jim Cramer's, Nicolas Economou Organizations: Starbucks, CNBC, Nurphoto, Getty Locations: China, Amsterdam
The move sparked protests, highlighting the problems city officials face when tackling overtourism. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . When cities are overrun with tourists, officials are often tasked with finding ways to make them more liveable for residents. On peak days, tourists visiting Venice for the day need to buy a ticket online or at booths to enter the city. Other tourist hot spots have implemented caps on the number of daily visitors.
Persons: , aren't, Simone Venturini, Venturini, Luca Bruno, Manuel Silvestri, it's Organizations: Service, Guardian, Business, AP, Reuters, Mount Fuji, BBC, US National Parks Locations: Venice, Italian, Veniceland, Amsterdam, Japan, Fujikawaguchiko, Austria, Athens
This means: no overtourism, no new hotels, and no more than 20 million hotel overnight stays by tourists per year,” it said in a statement. This is the latest in a series of measures the Dutch capital has taken to mitigate the issue of overtourism in the city. Last year, the Amsterdam City Council voted to ban cruise ships and close its cruise terminal. The city also banned the use of marijuana on public streets in the red light district and ended guided tours that passed by sex workers’ windows. Under a 2021 ordinance called “Amsterdam Tourism in Balance,” the city council is “obliged to intervene” when tourism numbers reach 18 million people.
Organizations: CNN, Amsterdam City Locations: Netherlands, Amsterdam, Balance
Amsterdam, Venice, and French Polynesia are among the places that have banned cruise ships. Banning cruise ships addresses two major problems that tourism destinations around the world are struggling to contain: hoards of people and environmental destruction. The Amsterdam City Council passed a measure Thursday that will ban cruise ships from docking in the Dutch capital. French Polynesia also banned mega cruise ships last year, citing concerns about the burden on local infrastructure and ecosystem conservation. So whether they are full bans or just limits, the cruise industry is likely to face more restrictions at the local levels in the future.
Organizations: Amsterdam City, Officials, Cruises, Hakai Magazine Locations: Amsterdam, Venice, Polynesia, Barcelona, city's, Santorini, Alaska, Juneau
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