JPMorgan Chase Cuts Starbucks Stock Target to $105

JPMorgan Chase & Co. has adjusted its expectations for Starbucks' (NASDAQ:SBUX) stock price, lowering it from $112.00 to $105.00 in a research report issued on Tuesday.

The brokerage currently holds an 'overweight' rating on the coffee company's stock and believes that the new target represents a potential upside of 9.96% from the current price.

This is not the only recent adjustment made by JPMorgan Chase & Co., as several other research firms have also commented on SBUX, including TD Cowen, UBS Group, Deutsche Bank Aktiengesellschaft, and Guggenheim.