This morning, BMO lowered its price target on shares of Starbucks (NASDAQ:SBUX) to $65 as the recent bakery acquisition could hurt margins in the near term. In the report, BMO reduced its EPS estimates, but reiterated its outperform rating.
Shares of Starbucks were higher despite the news, climbing 2.1% today.
And Goldman Sachs lowered its price target on shares of Safeway (SWY) to $17 as earnings per share could be lower now that the company has opted to buy back debt instead of common stock. In the report, Goldman reiterated its sell rating on the stock.
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